Trump Media takes $406 million hit from Bitcoin and equity losses
Trump Media & Technology Group (TMTG), which runs Truth Social and other Trump-branded media and technology platforms, posted a net loss of approximately $406 million for the first three months of 2026, according to a new SEC disclosure. The steep drop was driven largely by non-cash unrealized losses, including nearly $244 million in digital assets, chiefly Bitcoin, along with about $108 million in equity securities and investments. Trump Media reported no change in its Bitcoin position, ending the quarter with 9,542 coins worth approximately $767 million at current market prices. This places it as the 13th largest corporate holder of the crypto asset. The company also holds 756 million Cronos tokens, acquired through a purchase agreement with Crypto.com last year. Those tokens are now valued at around $53 million. Beyond direct crypto holdings, the company carried $554 million in equity securities, down from $722 million at the end of 2025. Those positions generated another $162 million in unrealized losses, partially offset by $37 million in gains from options trading and $17 million in realized derivative profits. The company generated around $18 million in positive operating cash flow during the quarter, its fourth consecutive quarter of doing so. Revenue rose 6% year-over-year to $871,000, coming mainly