Trump Media Posts $406M Q1 Loss After Crypto Drop

Trump Media & Technology Group (NASDAQ: DJT) posted a $406 million net loss for the first quarter of 2026. The company attributed the loss to a sharp decline in the market value of about $2.5 billion in cryptocurrency holdings. Quarterly revenue was $900,000.

Accounting rules that require investments to be reported at current market value forced Trump Media to record unrealized losses on its digital assets even though the holdings were not sold. Bitcoin traded above $126,000 in early October 2025 and fell below $70,000 by March 2026, prompting the write-down.

The company is listed under the ticker DJT and had a market value of roughly $2.47 billion when it released the results. Shares initially rose above $60 after a 2024 listing but had declined to about $9.78 at the time of the report, closing the day down roughly 1 percent. Former President Donald Trump holds about 41 percent of the company’s shares through a trust and continues to use the Truth Social platform for public statements.

Interim CEO Kevin McGurn took over after Devin Nunes resigned last month. McGurn, who has worked at Hulu and Vevo and has experience in mergers and acquisitions, wrote that the business will use its balance sheet and operating cash flow to pursue growth and infrastructure projects. He wrote, ‘Trump Media is using its strong balance sheet and positive operating cash flow to continue growing all our businesses and platform infrastructure,’ and indicated the company plans to expand Truth Social and Truth+ communities.

In December 2025 the company announced a planned merger with TAE Technologies, a U.S. developer of nuclear fusion technology; the deal is expected to close by mid-2026. Trump Media has also discussed spinning off Truth Social and other media assets into a separate company, leaving the DJT-branded entity focused on energy-related projects and providing power for artificial intelligence applications. Company officials indicated plans to introduce paid platform features and to evaluate strategic alternatives to increase shareholder value.