Losses driven largely by depreciation of cryptocurrency assets as prices of digital currencies tumble.
Published On 9 May 20269 May 2026
The parent company of Donald Trump’s social media platform, Truth Social, has reported a loss of more than $400m in the first quarter of 2026, driven largely by the slumping value of cryptocurrency assets.
A March 31 company filing shows that 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.
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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…
