Trump Media posts $54.8M loss as revenue sinks below $1M in Q3

Key takeaways

How is TMTG performing in the stock market?

Its shares have fallen over 62% year-to-date, recently closing at $13.10 after another post-earnings drop.

What controversies surround Trump and crypto?

Critics accuse Trump of using crypto for political gain, from the U.S. Crypto Strategic Reserve announcement that allegedly fueled a market pump, to the pardon of Binance founder CZ.

President Donald Trump’s media empire is back in the spotlight and not for the reasons investors hoped.

Trump Media Q3 reports

Trump Media & Technology Group (TMTG) reported a staggering $54.8 million net loss in the third quarter of 2025, nearly three times higher than the same period last year.

Despite the ongoing buzz around Truth Social and President Trump’s broader digital ambitions, the company’s financial performance continues to disappoint.

Revenue declined by 3.8%, falling to just $972,900, while legal expenses soared to $20.3 million in a single quarter.

This sharp imbalance triggered a 3% drop in TMTG’s stock during after-hours trading, highlighting growing concerns about the company’s financial health and strategic direction.

Since its highly publicized SPAC merger in March 2024, the company has shown more volatility than value.

Transparency remains lacking, especially regarding Truth Social’s user base, with performance metrics seemingly driven by Trump’s personal brand rather than platform fundamentals.

As a result, shares of DJT (stock ticker symbol for Trump Media) have plunged over 62% year-to-date, recently closing at $12.90 following another post-earnings decline.

These developments come at a time when Trump’s broader push into crypto is also facing increased scrutiny.

Controversies around Trump’s crypto strides

His announcement of a U.S. Crypto Strategic Reserve fueled a market rally, which critics like Peter Schiff labeled the “biggest crypto rug pull in history,” accusing Trump of timing posts to benefit insiders and calling for a congressional investigation.

Then the controversy around Trump Media deepened after Donald Trump pardoned Binance founder Changpeng “CZ” Zhao, erasing his 2023 conviction for Bank Secrecy Act violations.

Critics, including Sen. Elizabeth Warren, called it a “pay-to-play” act, alleging Binance’s ties with Trump-linked entities like World Liberty Financial (WLFI) and Dominari Holdings influenced the decision.

At the same time, Sen. Chris Murphy accused Coinbase of receiving regulatory favors under Trump, a claim the exchange dismissed as politically driven.

Thus, as Trump’s influence over crypto expands, allies hail it as pro-innovation, while critics see blurred lines between policy, profit, and power. 

Stock performance and more

All these developments came as Trump Media & Technology Group Corp. (TMTG) shares slipped 1.73% to $13.10, according to Google Finance. 

However, uncertainty may be easing as Trump Media & Technology Group unveils ambitious new plans.

The company is partnering with Yorkville Acquisition Corp. and Crypto.com to launch a $6.4 billion digital asset venture focused on Cronos (CRO).

This initiative aims to make TMTG the largest public holder of CRO, echoing MicroStrategy’s well-known Bitcoin accumulation strategy.

By aligning its media empire with a bold crypto investment, Trump is signaling a clear intent to transform TMTG into a digital asset powerhouse.

Yet, this high-stakes gamble could either redefine the company’s future, or intensify its financial volatility.