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Tue, 11 Aug 2026

Tue, 11 Aug 2026 Trump Media reports $238m loss as crypto falls

The firm says it will refocus on social media, which includes a plan to sell faster access to Trump's posts.
Donald Trump's media company, Truth Social, reported a quarterly loss of $238m (£176m) between April and June, exceeding the previous year's losses by over 10 times. The company cited a drop in cryptocurrency values as the main cause of its financial struggles. Despite this setback, CEO Kevin McGurn expressed optimism about the future, stating that more than 10 customers have signed up for a new service offering faster access to market-moving posts from influential users. Revenue increased by 89% year-over-year to $1.7m, but overall losses persisted due to the decline in cryptocurrency values. The company's financial struggles are attributed to its diversification into areas such as cryptocurrency holdings and clean-energy investments, with some analysts describing it as "more of a crypto holdings firm wrapped around" a media company.