The main cause of losses is the decline in cryptocurrency assets due to the decline in digital currency prices.
Published May 9, 2026
Truth Social, the parent company of Donald Trump’s social media platform, reported losses of more than $400 million in the first quarter of 2026, primarily due to a decline in the value of cryptocurrency assets.
Trump Media and Technology Group (TMTG) reported revenue of about $870,000 in the first three months of this year, with net sales up 6%, according to a March 31 company filing.
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However, it suffered significant losses in connection with some of its investments, particularly significant purchases of virtual currencies.
The president, a prolific social media user who frequently uses the platform to announce policy changes and attack opponents, controls about 41 percent of the company’s stock through a trust that controls his financial interests while in office.
Trump launched Truth Social after being banned from most major social media platforms following his loss to US President Joe Biden in the 2020 election and the resulting riot by his supporters at the US Capitol on January 6, 2021.
TMTG’s interim CEO Kevin McGahn said in a statement that the company is “utilizing a strong balance sheet and positive operating cash flow to continue to grow all of our businesses and platform infrastructure.”
The company announced last year that it had raised $2.5 billion to invest in cryptocurrencies, an area that has been hit by price declines. That’s despite initial optimism within the industry that the Trump administration would improve prospects with a favorable regulatory environment.
Bitcoin’s price fell from $126,000 in October to $70,000 in March, before rising slightly to around $80,000.
TMTG said in its filing that a “huge amount” of its losses were due to digital assets, and that it remains “focused on growing our infrastructure and audience in preparation for future monetization capabilities.”
McGahn similarly said that Truth Social is “a bastion of free speech, with innovative enhancements coming soon.”
TMTG is proceeding with a merger with TAE Technologies of the US, which focuses on the development of nuclear fusion technology.
Researchers hope that nuclear fusion will become a limitless source of energy, but fusion continues to require more energy than it produces.
“We are working to advance our proposed merger with TAE Technologies as quickly as possible, while identifying new growth opportunities and new ways to increase shareholder value,” McGahn said.
Trump has appeared on Truth Social daily throughout his presidency, frequently offering a kaleidoscope of public announcements and personal grievances and commentary.
On Friday, he used the site to announce a three-day suspension of fighting over Russia’s invasion of Ukraine, minutes after touting his administration’s move to declassify government documents related to unidentified flying objects (UFOs).
Hours later, he used the platform to assert public support for the U.S.-Israel war on Iran and repost a January article detailing the FBI raid on an election center in Georgia.
