The parent company of Truth Social, President Donald Trump’s social media platform, reported a net loss of over US$400 million in the first quarter, mainly due to falling cryptocurrency valuations. Trump Media & Technology Group (TMTG) reported revenue of less than US$1 million for the three months ending March 31. Trump, who uses Truth Social for announcements, controls about 41 percent of TMTG’s shares. TMTG is also involved in financial services and announced a US$2.5 billion funding to invest in cryptocurrencies. However, the drop in digital currencies significantly impacted this part of the business. Because the company must reveal the value of its investments, it recorded a loss of US$406 million for the first quarter. According to the filing, TMTG generated US$900,000 in revenue, a small amount for a company valued at US$2.47 billion on the stock market. The company says it continues to focus on expanding its infrastructure and audience. TMTG is merging with TAE, which is developing nuclear fusion technology. The deal is expected to close in mid-2026.