Donald Trump’s Truth Social Bleeds $400 Mn In 3 Months; Here’s Why

Trump Media & Technology Group, the parent company of Truth Social, reported a net loss of more than $400 million in the first quarter. The company has linked the sharp decline to falling cryptocurrency valuations, according to AFP reports. 

During the first three months ended March 31, the company generated less than $1 million in revenue. The company, last year, had announced plans to allocate up to $2.5 billion toward cryptocurrency-related investments as part of its expansion into financial services. 

US President Donald Trump, who frequently uses Truth Social for official communication, owns nearly 41% of TMTG through a trust created to oversee his financial interests while serving as president.

Why Trump Media Lost Big 

Bitcoin tumbled from over $126,000 in October 2025 to below $70,000 in March 2026. However, the cryptocurrency recovered slightly to above $80,000 before hitting the low. And this sharp fall in crypto prices has hit the business of Trump Media hard. 

The company reported a first-quarter loss of $406 million, saying most of it was linked to its digital asset holdings. During the same period, TMTG earned around $900,000 in revenue, despite having a market valuation of about $2.47 billion.

Trump Media’s Next Move

The company, in an exchange filing, stated that it continues to focus on expanding its infrastructure and audience to prepare for future monetised features. CEO Kevin McGurn has kept a positive outlook for the company’s growth. 

“Trump Media is using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure. Even as we work toward advancing our proposed merger with TAE Technologies as quickly as possible, we’re identifying new growth opportunities and new ways to increase shareholder value,” he said, as quoted by AFP. 

“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 out these powerful, uncancellable platforms for free expression,” he added.  

In December, Trump Media & Technology Group announced plans to merge with TAE Technologies, a US-based company developing nuclear fusion technology. The transaction is expected to be completed by mid-2026.

CEO Exit Amid Losses

The company last month announced that former California congressman Devin Nuen will step down as chief executive after leading the company since its early stages. Veteran media executive Kevin McGurn, who has previously worked with Hulu and Vevo, has taken over as interim CEO. 

This came amid the company’s mounting losses, falling stock price and growing uncertainty around the platform’s long-term growth. 

Nunes oversaw the launch of Truth Social in 2022 after major social media platforms suspended Trump following the 2021 election controversy. The platform quickly became Trump’s primary channel for political messaging and public statements.

He also led Trump Media’s public market debut in 2024 under the ticker “DJT”. The stock initially surged above $60, sharply boosting Trump’s paper wealth as the company’s largest shareholder. 

However, the shares later lost most of those gains and recently fell to around $9.70, reflecting investor concerns over the company’s financial performance and business outlook.