Trump Media Posts $400M Loss on Crypto Slump

The parent company of former President Donald Trump's social media platform, Truth Social, disclosed a net loss of over $400 million for the first quarter of the year. The company attributed the majority of this financial hit to a significant drop in the value of its cryptocurrency holdings.

In a statement, Trump Media & Technology Group reported revenues of less than $1 million for the three months ending March 31. Trump, who regularly uses Truth Social to broadcast his statements, holds approximately 41% of the company's shares.

Cryptocurrency Investments Backfire

The group is also active in financial services. A year ago, it announced a $2.5 billion financing initiative to invest in cryptocurrencies, a sector that has recently drawn Trump's interest. However, the subsequent downturn in digital asset prices severely impacted the company's bottom line.

Bitcoin's price tumbled from roughly $126,000 in early October to under $70,000 by March. While it has since recovered to just over $80,000, the decline was enough to trigger massive paper losses. Because the company is required to disclose the value of its investments even if it hasn't sold them, it recorded a $406 million loss for the first quarter, noting that "the bulk" of the loss stemmed from digital assets.

Leadership Change and Future Plans

Following the steep stock price decline that erased billions in market value, Trump Media & Technology Group also announced a change in its executive leadership. The company's market capitalization stands at roughly $2.47 billion, making its reported Q1 revenue of $900,000 a meager sum by comparison.

In a separate development, the group announced in December a merger with the U.S. company TAE, which specializes in developing nuclear fusion technology. The deal was expected to close by mid-2026.