Crypto and Equity Markdowns Drive Trump Media’s $406 Million Q1 Loss

Trump Media & Technology Group (TMTG) posted a $405.9 million net loss for the first quarter of 2026, dominated by non-cash losses. Unrealized losses on digital assets and equity securities reached $368.7 million, almost the entire shortfall. Stock-based compensation added $11.8 million, alongside $11.5 million of accreted interest. Bitcoin Treasury Drives Paper Losses as Prices