Trump Media & Technology Group stock is now trading at around $8.93. This number tells a story in itself. Truth Social’s parent company peaked at $97.50 per share in early 2022, and has lost more than 90% of its value since then.
CEO Devin Nunes stepped down on April 22, adding leadership uncertainty to a company already under financial pressure.
The bad deal gets worse
There are 756 million Kronos tokens on Trump Media’s books, purchased for approximately $114 million as part of a deal with Crypto.com. By March 31, the value of these tokens was only $53 million, less than half of what the company paid.
That loss It worsened an already painful quarter driven largely by Bitcoin purchases made near the market peak last summer. The company purchased approximately 9,500 bitcoins at an average cost of approximately $108,519 per coin.
At the end of the quarter, the 9,542 bitcoins it held had a cost basis of $1.13 billion but a fair value of only $647 million — a gap of about $500 million. Since then, Bitcoin has risen back above $80,000, pushing the value of the position to nearly $770 million.
WLFIUSD trading at $0.06 on the 24-hour chart: TradingView
the Total damage For the first quarter of 2026, net losses reached $406 million, up sharply from $31.7 million during the same period a year earlier.
According to A Deposit With the SEC, roughly $370 million of that number came from unrealized losses on digital assets and stock holdings — meaning the company didn’t sell its positions at a loss, but the decline in market cap still hit the books hard. An additional $108 million in investment losses were mostly tied to securities.
Image: Technext
Revenues are barely moving
while Encryption losses Trump Media dominated the quarter, with Trump Media’s core media business generating revenue of just $871,200 – up 6% from $821,200 in Q1 2025.
This figure includes $810,100 in media revenue and $61,100 in management fees associated with Truth.Fi ETF offerings. For a publicly traded company with more than $2 billion in total financial assets, the revenue line is poor.
The company generated approximately $18 million in operating cash flow during the quarter, fueled by the sale of options on its pledged Bitcoin holdings.
Of its total BTC position, 4,260 BTC is pledged as collateral for convertible bonds, and another 2,000 BTC is held against covered call options as a hedge.
Featured image by Thomas Fuller/SOPA Images/LightRocket via Getty Images, chart from TradingView
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