The DJT Bagholder Test — Audit finding
Reporting and findings
- documented
After the affordability promise, the Trump-controlled issuer put company cash and equity into volatile digital assets and later booked a $403.22 million related accounting loss. Shareholders carried that corporate risk; their aggregate realized losses are not established.
- The American Presidency Project: 2024 Republican Party PlatformTwenty promises, items 7-9; chapters 2, 9, and 10
- U.S. Securities and Exchange Commission: Trump Media & Technology Group Corp. Form 8-K: Cronos purchase agreementItems 1.01 and 8.01: August 26 purchase and closing; 2,797,985 shares plus $50 million cash exchanged for 684,427,004 CRO valued at approximately $105 million
- U.S. Securities and Exchange Commission: Annual Report on Form 10-K for the year ended December 31, 2025Consolidated Statements of Operations; risk factors on volatility, dilution, dividends, and beneficial ownership
- Associated Press: How a Trump Media deal with a crypto firm exposes potential conflicts of interestInvestigative account of the Crypto.com relationship, Cronos treasury venture, company economics, federal regulatory context, and disclosed uncertainty
People and organizations
- America First Audit — The DJT Bagholder Testaudit case
- Donald J. Trumpcomparison subject