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Trump Media & Technology Group (TMTG), the company behind Truth Social and other Trump-branded media and technology platforms, reported an approximately $406 million net loss for the first three months of 2026, according to a new SEC disclosure.
The steep decline was driven largely by non-cash unrealized losses, including nearly $244 million in digital assets, chiefly Bitcoin, and about $108 million in equity securities and investments.
Trump Media reported no change in its Bitcoin position, ending the quarter with 9,542 coins worth approximately $767 million at current market prices. The company said this makes it the 13th largest corporate holder of the crypto asset.
In addition to Bitcoin, Trump Media holds 756 million Cronos tokens acquired through a purchase agreement with Crypto.com last year. Those tokens are now valued at around $53 million.
Beyond direct crypto holdings, the company carried $554 million in equity securities, down from $722 million at the end of 2025. Those positions generated another $162 million in unrealized losses, partially offset by $37 million in gains from options trading and $17 million in realized derivative profits.
Trump Media generated around $18 million in positive operating cash flow during the quarter, its fourth consecutive quarter of doing so.
Revenue rose 6% year-over-year to $871,000. The company attributed revenue primarily to advertising on Truth Social and early fees from its Truth.Fi financial products.
As of March 31, 2026, Trump Media held $2.24 billion in total assets, including nearly $280 million in cash, cash equivalents and restricted cash. This was offset by $953 million in convertible notes and other debt.
Trump Media has undergone a leadership overhaul in recent weeks as it shifts its strategic direction.
Kevin J. McGurn was named Interim CEO in April 2026, replacing Devin Nunes. Several board members departed, and new figures, including Boris Epshteyn and Meredith O’Rourke, joined leadership.
The changes come as TMTG places greater emphasis on energy, AI infrastructure, and digital assets.
TMTG has moved beyond its social media roots through a proposed $6 billion merger with fusion energy company TAE Technologies and discussions about spinning off Truth Social and Truth+.
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