Trump Media’s loss exceeded $400 million in the first quarter as falling cryptocurrency valuations hit the Truth Social parent company, according to a Friday company filing.
Trump Media & Technology Group reported about $900,000 in revenue for the three months ending March 31.
The AFP reported that the company said digital assets drove “the vast bulk” of its $406 million first-quarter loss.
Bitcoin fell from more than $126,000 in early October to below $70,000 in March before recovering to above $80,000.
President Donald Trump controls about 41% of TMTG shares through a trust that manages his financial interests during his presidency.
TMTG announced $2.5 billion in funding a year earlier to invest in cryptocurrencies as the company expanded into financial services.
The company said it continues to expand infrastructure and audience growth before launching future monetised features.
TMTG said in December that it would merge with TAE, a US company developing nuclear fusion technology, with the deal expected to close in mid-2026.
