Cryptocurrency decline costs Trump company $405 million
Ulviyya Poladova
Read moreTrump Media & Technology Group, the company that owns the social media platform Truth Social and is controlled by the family of U.S. President Donald Trump, reported a net loss of $405.9 million in its first-quarter 2026 financial results, driven primarily by unrealized losses on cryptocurrency holdings, AzerNEWS reports, citing Bloomberg.
The company’s performance was heavily impacted by losses linked to its cryptocurrency holdings. In late February, Trump Media sold 2,000 bitcoins at a price below $70,000 per unit, contributing significantly to its financial decline.
This comes despite a recent peak in the cryptocurrency market, when Bitcoin reached a record high of $126,000 in October of the previous year, highlighting the volatility of digital asset valuations during the reporting period.
The firm also sold 2,000 bitcoins in late February, when the market price had fallen to just under $70,000. At present, Bitcoin is trading above $80,000, highlighting significant volatility in the digital asset market.
In addition to financial pressures, the company has also experienced leadership changes. In late April, CEO Devin Nunes stepped down following a sharp decline in the company’s stock value.
Image: FellowNeko / Shutterstock
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