How a Trump Media deal with a crypto firm exposes potential conflicts of interest

This secondary source from Associated Press supports 3 claims across 3 ledger entries.

Claims supported by this source

analysisdocumented
After the affordability promise, the Trump-controlled issuer used company cash and equity for volatile digital assets and later reported a $403.22 million related accounting loss, exposing shareholders to that corporate risk without establishing their aggregate realized losses.
Investigative account of the Crypto.com relationship, Cronos treasury venture, company economics, federal regulatory context, and disclosed uncertainty
The DJT Bagholder Test — Audit finding · Cited analysis
factdocumented
Trump Media closed a purchase in which it transferred company shares and cash to Foris Holdings US for Cronos tokens, after separately accumulating Bitcoin in the third quarter.
Investigative account of the Crypto.com relationship, Cronos treasury venture, company economics, federal regulatory context, and disclosed uncertainty
The DJT Bagholder Test — The record · The record
factdocumented
Company-level digital-asset losses do not establish aggregate realized shareholder losses or a transfer of that amount to Trump; holder cost bases, trades, and the later value of the assets differ.
Investigative account of the Crypto.com relationship, Cronos treasury venture, company economics, federal regulatory context, and disclosed uncertainty
The DJT Bagholder Test — Evidentiary limit · Evidentiary limit