Trump Media and Technology Group, the parent company of Donald Trump’s Truth Social platform, reported a loss of nearly $406 million in the first quarter of 2026, according to company filings released on March 31.
The company generated slightly more than $870,000 in revenue during the January-to-March period, while net sales rose six percent year over year.
The losses were driven largely by declines tied to cryptocurrency-related investments, including unrealized losses on digital assets and equity securities.
Trump Media stated that the “vast bulk” of the losses came from non-cash losses connected to digital assets, digital assets pledged, and equity securities.
The company had previously announced plans to build a large bitcoin treasury after investing billions of dollars into cryptocurrency assets during the market’s rapid rise in 2025.
Bitcoin prices declined sharply over recent months, falling from about $126,000 in October to roughly $70,000 in March before recovering slightly.
The company’s filings indicated that cryptocurrency depreciation accounted for most of the financial setback.
Interim Chief Executive Officer Kevin McGurn said Trump Media was “using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure”.
McGurn also described Truth Social as a “bastion of free speech with innovative enhancements coming soon”.
Donald Trump controls approximately 41 percent of the company’s shares through a trust managing his financial interests while he remains in office.
Truth Social became Trump’s primary communication platform after he was banned from major social media platforms following the January 6, 2021 attack on the US Capitol.
Trump Media is also pursuing a proposed merger with California-based TAE Technologies, a nuclear fusion company focused on developing energy solutions for artificial intelligence data centers.
The deal, announced earlier this year, is valued at approximately $6 billion.
Researchers have long viewed nuclear fusion as a potential source of near-limitless energy, although the technology has yet to generate more energy than it consumes.
McGurn said the company was continuing to identify “new growth opportunities and new ways to increase shareholder value” while advancing the proposed merger.
Trump has continued using Truth Social regularly throughout his presidency to post policy announcements, political commentary, and foreign policy statements.