The parent company of Donald Trump's social media platform Truth Social reported a loss of more than $400 million in the first quarter of 2026, driven largely by the slumping value of cryptocurrency assets.

A March 31 filing shows Trump Media and Technology Group (TMTG) reported revenue of about $870,000 for the first three months of the year, with a six percent rise in net sales. However, it had hefty losses related to its investments, notably a significant buy-in of cryptocurrency.

The U.S. president, who uses the platform to announce policy changes and attack opponents, controls about 41 percent of the company's shares via a trust. Trump launched Truth Social after being banned from major social media platforms following the 2020 election loss and the January 6 Capitol riot.

TMTG interim CEO Kevin McGurn said the company is using its strong balance sheet to grow its businesses and platform infrastructure.

The company stated last year it raised $2.5 billion to invest in cryptocurrencies, but the sector has experienced declining prices. Bitcoin dropped from $126,000 in October to $70,000 in March, before rising slightly to about $80,000.

TMTG is pursuing a merger with TAE Technologies, focused on nuclear fusion technology. Researchers hope fusion could become a limitless energy source, but it currently requires more energy than it produces.

Trump remains a daily fixture on Truth Social. On Friday, he used the site to announce a three-day pause in fighting in Russia's invasion of Ukraine and to express support for the U.S.-Israeli war with Iran.

Source: www.aljazeera.com