Trump Media & Technology Group Reports $400M Loss Amid Crypto Crash and Truth Social Revenue Decline

Trump Media & Technology Group (TMTG), the parent company of Truth Social, has reported a significant net loss exceeding $400 million in the first quarter of the year, largely driven by a sharp decline in cryptocurrency valuations.

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 ongoing challenges in monetizing its social media platform.

The company, which is closely associated with President Donald Trump—who holds approximately 41 percent of its shares through a trust managing his financial interests—has also expanded into financial services, including a major investment push into digital assets.

Last year, TMTG announced $2.5 billion in funding aimed at cryptocurrency investments. However, the recent downturn in digital markets significantly impacted its portfolio. Bitcoin prices fell from over $126,000 in early October to below $70,000 in March, before partially recovering to above $80,000.

Due to accounting requirements, companies must report the value of their holdings even without selling them. As a result, TMTG recorded a loss of $406 million in the first quarter, with “the vast bulk” attributed to its digital asset exposure.

Despite its low revenue, the company maintains a market valuation of approximately $2.47 billion. It stated that it is focusing on expanding its infrastructure and user base in preparation for future monetization features.

In addition, TMTG announced plans in December to merge with American firm TAE, which is developing nuclear fusion technology. The merger is expected to be completed by mid-2026.