Trump Media posts $406M Q1 loss due to Bitcoin and Cronos value drops despite positive cash flow

Trump Media & Technology Group reported a $405.9 million net loss in Q1 2026, mainly from unrealized losses on its Bitcoin and Cronos holdings. The company held 9,542 Bitcoin and 756 million Cronos tokens, with their market values falling significantly below purchase prices. Despite the large non-cash crypto markdowns, Trump Media still generated $17.9 million in positive operating cash flow and reported $2.1 billion in financial assets. The company continues to build its platform and financial products, relying on its strong balance sheet to support growth amid volatile crypto markets.