DJT Stock Plunges Amid Cryptocurrency Losses
Trump Media & Technology Group Corp., the parent company of Truth Social, reported a net loss of $238.1 million for the second quarter of 2026.
The loss was largely driven by markdowns on its cryptocurrency holdings and investment portfolio, which accounted for $190.4 million of the shortfall.
Despite the significant losses, the company's revenue rose 89% year-over-year to $1.7 million, bolstered by the commercial rollout of streaming service Truth+ and the launch of Truth API, a data-licensing product.
The company also highlighted progress toward its proposed merger with TAE Technologies Inc., a private fusion power developer, which it expects will be completed in the fourth quarter of 2026 subject to regulatory clearance and shareholder approval.