Trump Media reports $405.9m Q1 loss, almost entirely from crypto markdowns
Trump Media & Technology Group reported a $405.9 million net loss for the first quarter of 2026, the company said on Friday, almost all of it driven by unrealised losses on the cryptocurrency holdings it has spent the past nine months building.
Operating cash flow was a positive $17.9 million; total financial assets stood at $2.1 billion, roughly triple the same point a year earlier.
The numbers below the headline are unusually small. Truth Social and the company’s adjacent media properties produced about $871,000 of revenue, up about 6% on the same quarter last year.
Truth.Fi, the financial-services brand built around exchange-traded funds and managed accounts, contributed $61,100 in management fees. Together, the operating businesses ran a small profit on a cash basis. The reported loss is almost entirely a balance-sheet event.
That balance sheet now contains 9,542 bitcoin, purchased starting in July 2025 at an average cost of $108,519...
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