Trump Media & Technology Group, the company that owns the social
media platform Truth Social and is controlled by the family of U.S.
President Donald Trump, reported a net loss of $405.9 million in
its first-quarter 2026 financial results, driven primarily by
unrealized losses on cryptocurrency holdings,
AzerNEWS reports, citing Bloomberg.
The company’s performance was heavily impacted by losses linked
to its cryptocurrency holdings. In late February, Trump Media sold
2,000 bitcoins at a price below $70,000 per unit, contributing
significantly to its financial decline.
This comes despite a recent peak in the cryptocurrency market,
when Bitcoin reached a record high of $126,000 in October of the
previous year, highlighting the volatility of digital asset
valuations during the reporting period.
The firm also sold 2,000 bitcoins in late February, when the
market price had fallen to just under $70,000. At present, Bitcoin
is trading above $80,000, highlighting significant volatility in
the digital asset market.
In addition to financial pressures, the company has also
experienced leadership changes. In late April, CEO Devin Nunes
stepped down following a sharp decline in the company’s stock
value.
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