Trump Media & Technology Group (TMTG), the parent of Truth Social, announced a net loss of about $238 million for the second quarter ending June 30, 2026, a sharp increase from a $20 million loss during the same period last year [1, 2, 3, 4, 5]. The company attributed most of the loss to unrealized impairments on digital assets, including cryptocurrencies, pledged assets, and equity securities totaling roughly $190 million [3, 6].
Despite the loss, TMTG’s revenue for Q2 was approximately $1.7 million, up 89% year-on-year, mainly driven by advertising and subscription fees from its media segments such as Truth Social [2, 3, 4]. However, daily active users on Truth Social declined significantly in July 2026, falling from around 436,000 to 261,000 compared to the previous year, reflecting ongoing challenges in user growth [3, 7].
As of June 30, TMTG held roughly 9,477 bitcoin valued at $557 million, down slightly due to a reduction of 65 BTC and falling crypto prices. It also maintained nearly $40.6 million in Cronos tokens, exposing the company to significant crypto market volatility [8, 9]. The heavy losses contributed to a cumulative net loss of about $644 million for the first half of 2026 against revenues of $2.5 million [3].
In response to its crypto setbacks, TMTG has abandoned cryptocurrency investment plans and shut down prediction market operations on Truth Social [1, 5, 7]. Instead, interim CEO Kevin McGurn said the company is refocusing on its core social media business, stating, "We made the disciplined choice to pivot in order to invest more time and resources in our most important initiatives. We will say no to things or change course as warranted." [5]
TMTG also launched a new subscription service called Truth API in August 2026, providing financial and trading firms with faster access to posts from leading Truth Social influencers, including market-moving posts from Donald Trump. The service charges $60,000 to $100,000 monthly and has signed more than 10 clients, primarily high-frequency trading firms capitalizing on milliseconds of information advantage [1, 3, 5]. McGurn highlighted the early client uptake, saying, “Currently we have over 10 companies signed up for Truth API paying $60,000 to $100,000 per month.” [3] However, Truth API has raised concerns about regulatory scrutiny due to potential conflicts of interest linked to preferential information access [1, 3, 5].
Following the Q2 earnings release, TMTG’s stock fell approximately 8% on August 10, closing near $9.34 and down 30% year-to-date [3, 7].
TMTG also revealed plans to merge with fusion energy startup TAE Technologies, with the deal expected to complete in 2026 [1, 2, 4]. The company’s next key milestone will be finalizing this merger later this year.
