FLORIDA: The Trump family media group has posted a net drop of US$405.9mil in the first quarter (1Q), largely driven by unrealised losses in cryptocurrencies held by the company. 

Trump Media & Technology Group Corp, which is the parent company of Truth Social, released its 1Q of financial year 2026 results last Friday reporting a positive operating cash flow of US$17.9mil and US$2.1bil in financial assets, which is triple the assets from the same period a year ago.

However, the company’s investment in cryptocurrencies at the peak of the market last summer drove hundreds of millions in losses this quarter.

Close to US$370mil of the company’s losses came…