Truth Social parent posts over $400M loss in first quarter of 2026
Al Jazeera Staff
Trump Media and Technology Group (TMTG), owner of Truth Social, reported a loss over $400 million in Q1 2026, driven by a drop in cryptocurrency values. Revenue was around $870,000, up 6% year-on-year. The company holds about 41% owned by President Trump and is pursuing a merger with nuclear fusion firm TAE Technologies.
The parent company of former U.S. President Donald Trump’s social media platform Truth Social, Trump Media and Technology Group (TMTG), has disclosed a financial report revealing a loss exceeding $400 million in the first quarter of 2026. The primary cause was a steep drop in the value of the cryptocurrency assets held by the company.
According to a filing with regulators on March 31, TMTG recorded revenue of approximately $870,000 in the first three months of the year, a 6% increase compared to the same period last year. However, the company suffered heavy losses related to its investment portfolio, particularly a large stake in digital currencies.
President Trump, who frequently uses Truth Social to announce policy or criticize opponents, holds about 41% of the company’s shares through a trust that manages his financial interests while in office. Trump founded Truth Social after being banned from most major social media platforms following his 2020 election loss and the January 6, 2021, Capitol riot.
Interim CEO Kevin McGurn of TMTG said in a statement: “The company is leveraging a strong balance sheet and positive operating cash flow to continue developing all business lines and platform infrastructure.”
Last year, TMTG announced it had raised $2.5 billion to invest in cryptocurrency, but the sector has seen a decline in value. This happened despite earlier optimism that the Trump administration would boost the industry’s prospects through a favorable regulatory environment. Bitcoin prices fell from $126,000 in October to $70,000 in March, before recovering slightly to around $80,000.
TMTG stated in the filing that the “majority” of the loss came from digital assets and that the company would continue to “focus on expanding infrastructure and audience to prepare for future monetization features.” McGurn also asserted that Truth Social is “a fortress of free speech with upcoming improvements.”
Currently, TMTG is pursuing a merger deal with U.S. company TAE Technologies, which develops nuclear fusion technology—a field researchers hope will become an endless energy source but still requires more energy than it produces. “Even as we work to push the merger with TAE Technologies forward as quickly as possible, we are identifying new growth opportunities and new ways to enhance shareholder value,” McGurn said.
Throughout his presidency, Trump has continued to use Truth Social daily, often making official announcements while also expressing personal grievances and comments. Last Friday, he used the platform to announce a three-day ceasefire in the Russia-Ukraine conflict, shortly after praising a decision to declassify government documents related to unidentified flying objects (UFOs). A few hours later, he used the platform to assert public support for the U.S.-Israel conflict with Iran and reposted a January article about an FBI raid on a polling center in Georgia.
