3 weeks ago
The genitor institution of Donald Trump’s Truth Social level – 1 of nan president’s preferred communications channels – mislaid astir $406m successful nan first 3 months of nan twelvemonth while generating a small complete $870,000 successful revenue, according to financial filings.
The Trump Media and Technology Group’s quarterly study for January to March 2026 showed that while nett income were up 6% twelvemonth complete year, nan institution took sizable losses related to different investments.
The immense bulk of nan losses were “non-cash losses including unrealized losses connected integer assets, integer assets pledged, and equity securities ($368m), accreted liking ($11.5m), and banal based compensation ($11.8m)”, the institution said successful a property release.
The interim main executive officer, Kevin McGurn, said successful a connection that Trump Media “is utilizing its beardown equilibrium expanse and affirmative operating cashflow to proceed increasing each our businesses and level infrastructure”.
McGurn besides said, without elaborating, that Truth Social “remains a bastion of free reside pinch innovative enhancements coming soon”.
Most of nan losses stem from $3.5bn successful bitcoin buys nan institution made successful 2025 erstwhile nan cryptocurrency was surging successful worth and nan institution announced plans to found a “bitcoin treasury”. However, nan crypto asset’s worth has dropped by astir a 3rd since then.
The institution was group up aft Trump was banned from Twitter – now X – and Facebook successful 2021 aft his supporters attacked nan US Capitol erstwhile nan first of his 2 presidencies ended successful conclusion to Joe Biden. While Truth Social has efficaciously functioned arsenic a bullhorn for nan president, it has not flourished much broadly.
The reported losses travel 5 months aft Trump Media announced plans to merge successful a $6bn woody pinch a California atomic fusion institution TAE Technologies that intends to powerfulness artificial intelligence datacenters.
Nuclear fusion, pinch its long-held extremity of producing limitless energy, has yet to nutrient much power than it takes to create.
McGurn said successful a statement: “Even arsenic we activity toward advancing our projected merger pinch TAE Technologies arsenic quickly arsenic possible, we’re identifying caller maturation opportunities and caller ways to summation shareholder value.”
