nuNov 10, 2026, 09:28

Company behind Trump's Truth Social platform posts profit thanks to crypto

Trump Media & Technology reported a 409.7 million dollar third-quarter profit, largely fueled by a sharp increase in the value of its bitcoin holdings. While the company's social media platform Truth Social serves as its core business, its financial performance remains heavily dependent on cryptocurrency market volatility.

Trump Media & Technology, the company behind the Truth Social platform, reported a net profit of 409.7 million dollars for the third quarter, a significant turnaround from the 54.8 million dollar loss recorded during the same period last year. The financial boost was primarily driven by the company's holdings of over 15,600 bitcoins rather than direct growth from its social media operations, as the value of the cryptocurrency surged by 42 percent. This development follows a volatile second quarter where falling crypto prices caused a 238 million dollar loss for the firm.

Founded by Donald Trump after he was banned from X following the January 2021 Capitol riot, Trump Media has expanded beyond social media to explore financial products and potential mergers, such as a deal with TAE Technologies. As the company's largest shareholder with a stake exceeding 41 percent, Donald Trump remains central to its trajectory, with his holdings currently managed by his eldest son through a trust.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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