Company: DJTWW
Filing Date: 2025-06-13
Form Type: 424B3
Source: 0001140361-25-022485
Chunk: 22

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-06-13
Form: 424B3
Chunk 22
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 by steep declines in 2018 and 2022. After recovering from the 2018 decline and reaching record highs in December 2021, the value of the total crypto market cap declined by approximately 64% in the twelve months ended December 31, 2022. The collapse of several companies in the digital asset industry such as Celsius, Voyager and FTX impacted digital assets prices in 2022 and the majority of 2023. We believe that the approval and launch of spot-based bitcoin ETFs in the U.S. in the first quarter of 2024 and the election of President Donald Trump in the fourth quarter of 2024 drove up the crypto market capitalization again in 2024, but the crypto market generally declined in the first quarter of 2025. The price and trading volume of any digital asset is subject to significant uncertainty and volatility, and may significantly decline in the future, without recovery. Such uncertainty and volatility depend on a number of factors, including:

| • | market conditions across the cryptoeconomy; |

| • | changes in liquidity, volume, and trading activities; |

| • | trading activities on digital asset trading platforms worldwide, many of which may be unregulated, and may include manipulative activities; |

| • | investment and trading activities of highly active retail and institutional users, speculators, miners, and investors; |

| • | the speed and rate at which cryptocurrency is able to gain adoption as a medium of exchange, utility, store of value, consumptive asset, security instrument, or other financial assets worldwide, if at all; |

| • | decreased user and investor confidence in digital assets and digital asset trading platforms; |

| • | negative publicity and events relating to the cryptoeconomy; |

| • | unpredictable social media coverage or “trending” of digital assets; |

| • | the ability for digital assets to meet user and investor demands; |

| • | the functionality and utility of digital assets and their associated ecosystems and networks, including digital assets designed for use in various applications; |

| • | consumer preferences and perceived value of digital assets and digital asset markets; |

| • | increased competition from other payment services or other digital assets that exhibit better speed, security, scalability, or other characteristics; |

| • | regulatory (including enforcement) or legislative changes and updates affecting the cryptoeconomy; |

| • | the characterization of digital assets under the laws of various jurisdictions around the world; |

| • | the maintenance, troubleshooting, and development of