Trump Media Reports $238 Million Loss Amid Declining User Numbers

Trump Media & Technology, the parent company of Truth Social, reported a loss of $238 million for the three months ending in June 2026, which is over ten times the loss reported during the same period last year, according to the Associated Press. The company has seen a significant drop in daily active users of its mobile app, decreasing from 436,000 in July 2025 to 261,000 in July 2026, as reported by the Financial Times. The majority of the losses are attributed to declines in the value of the company's bitcoin and other cryptocurrency holdings. CEO Kevin McGurn announced that the company will pivot its focus to its primary initiatives and will discontinue efforts to expand into online betting and crypto. Trump Media has introduced a premium version of the Truth Social app, allowing paying customers earlier access to posts from Donald Trump and other notable accounts. Despite concerns regarding potential conflicts of interest, McGurn stated that this practice is standard in the industry. The company's revenue increased by 89% year-over-year to $1.7 million, primarily from advertising. However, Trump Media's stock has fallen over 80% from its peak following its IPO and dropped another 8% recently.