Trump media reports $400m quarterly loss

Trump Media & Technology Group (TMTG), the parent company of Donald Trump’s social media platform Truth Social, has reported a net loss of more than $400 million for the first quarter of the year, largely driven by volatility in cryptocurrency investments.

According to a company filing released on Friday, TMTG generated less than $1 million in revenue for the three-month period ending March 31, highlighting a widening gap between earnings and expenses. Despite its relatively small revenue base, the company remains valued at approximately $2.47 billion on the stock market.

The sharp financial loss was primarily attributed to a decline in the value of digital assets held by the company. TMTG had previously announced a $2.5 billion investment strategy focused on cryptocurrencies, a sector closely associated with former US President Donald Trump’s recent business interests.

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During the reporting period, Bitcoin prices fell significantly from over $126,000 in October to below $70,000 in March, before recovering to above $80,000. Because accounting rules require companies to report changes in asset value even without selling them, TMTG recorded a paper loss of $406 million.

The company stated that “the vast bulk” of the loss was linked to fluctuations in digital assets. It also confirmed that it is continuing efforts to expand its infrastructure and user base in anticipation of future monetization features on Truth Social.

Trump, who owns approximately 41 percent of TMTG shares held in a trust managing his financial interests, frequently uses Truth Social to issue public statements and political commentary.

In addition to its social media operations, TMTG has expanded into financial services and announced plans in December to merge with US-based TAE Technologies, a firm developing nuclear fusion energy. The merger is expected to be completed in 2026.

The latest financial results underscore the volatility of TMTG’s expansion strategy and its heavy exposure to emerging digital asset markets.