Trump Media reports $405.9M loss amid crypto volatility and leadership shake-up

Crypto-driven losses, falling stock value, and CEO resignation highlight a turbulent quarter for Truth Social’s parent company.

Annahar

Trump Media reports $405.9M loss amid crypto volatility and leadership shake-up

A screenshot of the 'Truth Social' platform on a mobile screen. (AFP)

“Trump Media & Technology Group”, the owner of the “Truth Social” platform, reported a net loss of $405.9 million in the first quarter of 2026, mainly due to unrealized losses on the cryptocurrencies held by the company.

The company stated in its quarterly results released on Friday that it achieved positive operating cash flow of $17.9 million and held financial assets valued at $2.1 billion, which is three times higher than in the same period last year.

However, the company’s bet on cryptocurrencies, after purchasing digital assets near the market peak last summer, pressured its quarterly results. The unrealized losses related to digital assets and stocks accounted for about $370 million of the total losses.

“Trump Media” currently holds over 9,500 Bitcoin units in its treasury. According to available information, the company purchased these assets last July at an average cost of $108,519 per unit, according to “CoinGecko.” The company also sold 2,000 Bitcoin units in late February, when the digital currency’s price was just under $70,000.

Bitcoin is currently trading at just over $80,000 after sharp fluctuations over the past year. The currency peaked at $126,000 in October before falling to $60,000 in early February.

The results come during a transitional phase within the company. Its CEO Devin Nunes, a former Republican congressman from California, resigned on April 22. The company’s stock has also dropped more than 90% since early 2022, when it reached $97.54, and is now trading at $8.93.

“Trump Media” is the parent company of the social media platform launched by President Donald Trump after his Twitter account was banned following the storming of the United States Capitol on January 6, 2021.

Trump Media reports $405.9M loss amid crypto volatility and leadership shake-up

Trump Media reports $405.9M loss amid crypto volatility and leadership shake-up

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