president’s parent company Donald TrumpIts subsidiary Truth Social suffered a net loss of more than $400 million in the first quarter.
The losses are believed to be mainly due to plummeting cryptocurrency valuations, AFP reported. Trump Media Technology Group (TMTG) reportedly had less than $1 million in revenue for the three months ended March 31 Company filing.
Trump mainly makes official statements through Truth Social and holds about 41% of TMTG shares. These currently sit in a trust fund established to manage his financial interests during his term as president. TMTG, which is active in the financial services sector, announced a year ago that they would provide $2.5 billion in funding to invest cryptocurrency.
The sharp plunge in digital currency markets hurt this aspect of the company. Bitcoin It fell from over $126,000 in early October to below $70,000 in March. It has now climbed back above $80,000.
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The company lost $406 million in the first quarter and said “most” of the losses were caused by digital assets. TMTG’s first quarter revenue was $900,000. By comparison, its stock market valuation is $2.47 billion.
According to the company, it continues to be “focused on growing its infrastructure and audience to prepare for future monetization capabilities.” CEO Kevin McGurn remains optimistic about the outlook.
“Trump Media is leveraging its strong balance sheet and positive operating cash flow to continue to grow all of our businesses and platform infrastructure. As we work to advance our proposed merger with TAE Technologies as quickly as possible, we are also looking for new growth opportunities and new ways to increase shareholder value. Truth Social remains a bastion of free speech, with innovative enhancements coming soon, and I look forward to rapidly growing our Truth Social and Truth+ communities and building these powerful, irrevocable platforms for free expression,” he said.
In December last year, TMTG said it would merge with TAE, an American company currently working on nuclear fusion technology. The transaction is expected to close in mid-2026.
As of the close, Trump Media Technology Group (DJT) stock price was $8.93.
(Using AFP input)
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