Trump Media & Technology Group (TMTG) the parent company of President Donald Trump’s social media platform Truth Social has reported a steep financial loss of more than $400 million in the first quarter of the year, largely driven by declines 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 a significant gap between income and expenses.
The company in which Donald Trump holds approximately 41% ownership through a trust managing his financial assets during his presidency, has recently expanded into financial services, including a major push into digital currencies.
Last year TMTG announced $2.5 billion in funding aimed at cryptocurrency investments an area that has reportedly become a key focus for the former president.
However the sharp downturn in crypto markets severely impacted the company’s financial position. Bitcoin prices reportedly fell from above $126,000 in October to below $70,000 in March, before partially recovering to over $80,000.
Because publicly traded companies must report the market value of their holdings even without selling them, TMTG recorded a $406 million loss, with the company stating that the “vast majority” of the decline came from its digital asset exposure.
Despite the losses, the company reported $900,000 in quarterly revenue, a modest figure for a firm valued at approximately $2.47 billion on the stock market.
TMTG said it remains focused on expanding its platform infrastructure and user base in preparation for future monetisation features.
Separately the company had announced in December a planned merger with American firm TAE, which is developing nuclear fusion technology. The deal is expected to be completed by mid-2026.
