Parent company of Trump's Truth Social site reports $400m loss this year

"Trump Media and Technology Group (TMTG) reported revenue of about $870,000 for the first three months of the year, with a six percent rise in net sales. However, it had hefty losses related to some of its investments, notably a significant buy in cryptocurrency. The US president, a prolific social media user who often uses the platform to announce policy changes or lash out at enemies, controls about 41 percent of the company's shares, via a trust that manages his financial interests while he is in office."

"TMTG's Interim chief executive officer Kevin McGurn said in a statement that the company is using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure. The company stated last year that it had raised $2.5bn to invest in cryptocurrencies, but the sector has experienced declining prices. That is despite initial optimism within the industry that the Trump administration would boost its prospects with a favourable regulatory environment."

"The price of Bitcoin dropped from $126,000 in October to $70,000 in March, before rising slightly to about $80,000. TMTG said in the filing that the vast bulk of losses were due to digital assets, and that it will continue to focus on expanding its infrastructure and audience to prepare for future monetised features."

Trump Media and Technology Group reported a first-quarter 2026 loss exceeding $400 million, with losses driven largely by depreciation of cryptocurrency assets as digital currency prices declined. Revenue for the first three months of 2026 was about $870,000, with net sales rising about 6%. The company reported substantial losses tied to investments, especially a significant cryptocurrency purchase. The US president controls about 41% of the company’s shares through a trust managing his financial interests while in office. The company said it raised $2.5 billion to invest in cryptocurrencies, but the sector’s value fell despite earlier optimism for a favorable regulatory environment. Bitcoin fell sharply from October to March before a modest rebound. The company stated most losses came from digital assets and planned to expand infrastructure and audience for future monetized features.

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