Trump Media & Technology Group faces a significant $400 million loss primarily linked to its aggressive investments in the volatile cryptocurrency market.
WASHINGTON – The parent company of Truth Social, President Donald Trump’s social media platform, reported a net loss on Friday of more than $400 million (about sh1.5 trillion) in the first quarter — mostly from tumbling cryptocurrency valuations.Trump Media & Technology Group (TMTG) reported revenue of less than $1 million (about sh3.7 billion) for the three months ending March 31, according to a company filing.The president, who routinely uses Truth Social to make official announcements,
controls about 41 percent of TMTG’s shares, which are held in the trust established to manage his financial interests during his presidency.TMTG is also active in financial services, and the company announced $2.5 billion (about 9.4 trillion) in funding a year ago to invest in cryptocurrencies, one of Trump’s recent passions.But the plunge in digital currencies hit this part of the business hard as the price of Bitcoin tumbled from over $126,000 (sh472 million) in
early October to below $70,000 (sh262 million) in March.It has since rebounded somewhat to over $80,000(sh300 million).Because the company is required to reveal the value of its investments, even if it hasn’t sold them, it recorded a loss of $406 million (sh1.5 trillion) for the first quarter.”The vast bulk” of the loss was due to digital assets, the company stated.According to its filing, TMTG generated $900,000 in revenue during the first quarter, a paltry amount
for a company valued at $2.47 billion (sh9.3 trillion) on the stock market.The company says it continues “to focus on expanding its infrastructure and audience to prepare for future monetized features.”TMTG said in December that it is merging with the American company TAE, which is developing nuclear fusion technology.That deal was expect to close in mid-2026.