Trump Media's Q1 loss widens to $406M due to $244M crypto markdowns and $108M investment losses

Trump Media & Technology Group reported a net loss of $405.9 million in Q1 2026, a significant increase from $31.7 million a year earlier. The loss was mainly driven by $244 million in unrealized losses on its cryptocurrency holdings, including 9,542.16 bitcoin and 756.1 million Cronos tokens, plus an additional $108.2 million investment loss mostly from equity securities. Despite $871,200 in revenue, the company’s crypto-related markdowns heavily impacted its financial results. The firm also managed $17.9 million in operating cash flow partly through selling put options on bitcoin-related assets.