Founded in 2021 by Donald Trump, Andy Litinsky and Wes Moss, Trump Media & Technology Group Corp. (TMTG) is on a mission to defend free speech in the face of tech giants. Based in Sarasota, Florida, the company went public in March 2024 after merging with SPAC Digital World Acquisition Corp. (DWAC) and is now listed on the Nasdaq under the symbol DJT.
Key points to remember
- TMTG was founded in 2021 and has been listed on the Nasdaq under the symbol DJT since March 2024.
- Truth Social is the main platform, complemented by Truth+ (streaming) and Truth.Fi (fintech).
- Financial performance:
- 673 million $ in cash (Q3 2024).
- 2 billion $ in Bitcoin (Q2 2025).
- Net loss of 400,9 million $ in 2024, despite a surge in the share price after Trump’s election.
- Strategic projects: partnerships with Moov, acquisition funds, and AI development for Truth Social.
- Bitcoin ETF: Planned launch of the Truth Social Bitcoin ETF, in collaboration with Crypto.com and Yorkville America Digital.
TMTG’s main activities
TMTG is best known for its social media platform Truth Social, which aims to be an alternative to traditional giants such as Facebook and Twitter. The company also offers Truth+, a streaming platform, and is developing Truth.Fi, a fintech brand aimed at providing innovative financial services.
Financial results and growth prospects
Quarters 2024-2025
- Third quarter 2024: TMTG reports a solid cash position of 673 million $, with no debt. This quarter marks the launch of the Truth+ app on multiple platforms (web, iOS, Android, connected TVs).
- First quarter 2025: The company closes with 759 million $ in cash and moderate cash consumption of 9.7 million $, despite significant legal fees. Truth.Fi debuts with strategic partnerships, including Crypto.com, Yorkville, and Charles Schwab, aimed at launching ETFs incorporating cryptocurrencies.
- Second quarter 2025: TMTG reaches over 3.1 billion $ in financial assets and generates its first positive operating cash flow. The company holds approximately 2 billion $ in Bitcoin, positioning itself as one of the most exposed listed companies to cryptocurrency.
Mixed financial results for 2024
In 2024, TMTG posted a net loss of 400,9 million $, a significant jump from 2023. Its revenue fell by 12% to 3.6 million $. However, the company’s share price nearly doubled after Donald Trump’s election, despite an overall decline for the year.
Diversification strategy and future plans
- Partnership with Moov: TMTG signed a strategic partnership with Moov to manage payments on Truth Social and Truth+, facilitating subscriptions and the integration of e-commerce features via Truth.Fi.
- Fund for acquisitions: The board of directors has approved the creation of a strategic fund to finance mergers, acquisitions, or partnerships, particularly in the ‘America First’ ecosystem.
- Reincorporation in Florida: The company plans to transfer its incorporation to the state of Florida, aligning its legal domicile with its physical headquarters, which is seen as a strategic advantage for businesses.
- Media partnerships: Truth+ will broadcast GB News, a conservative British channel, as part of its free offering, enabling the company to expand its editorial reach.
- Artificial intelligence: TMTG is developing an AI-assisted search feature for Truth Social, aimed at improving the user experience and making the platform more engaging.
A giant leap forward in the fintech sector with its Bitcoin ETF project
TMTG is taking another strategic step forward in its fintech expansion with the imminent launch of its Bitcoin ETF. This product, called Truth Social Bitcoin ETF, is one of the first to offer direct exposure to Bitcoin, giving investors the opportunity to buy shares in the fund to take advantage of Bitcoin price fluctuations within a regulated framework.
A strengthened case with the SEC
TMTG recently filed an amended version of its registration statement with the Securities and Exchange Commission (SEC). The fund will be supported by Crypto.com, which will provide Bitcoin custody and play a central role in executing trades and providing liquidity. Yorkille America Digital will also sponsor the ETF. The shares are expected to be listed on NYSE Arca, a platform known for its innovative financial products.
A convergence strategy between media and fintech
This Bitcoin ETF project is part of TMTG’s overall vision, which seeks to gradually integrate crypto into its cash management. The company aims to offer investors a gateway into the cryptocurrency market while strengthening its diverse ecosystem, which includes Truth Social, Truth+ and Truth.Fi. This initiative could represent a new opportunity for Trump Media in an evolving financial market marked by growing interest in digital assets.
Challenges to overcome
However, the launch of the ETF will depend on SEC approval and market conditions. Although the initiative has already attracted investor interest, it will be necessary to wait for regulatory approval before the product can be launched.
Conclusion
TMTG is actively pursuing the consolidation of its media-fintech ecosystem, with a strategic focus on a conservative audience. Although the company is facing significant financial losses, its solid cash position allows it to pursue its ambitions: diversification into fintech, strategic accumulation of Bitcoin, media partnerships, adoption of artificial intelligence, and openness to targeted acquisitions.
By combining ideology, technological innovation, and wealth management strategy, TMTG seeks to position itself as a key player in the digital ecosystem. However, it remains to be seen whether these initiatives will enable the company to become a sustainable media player and achieve a viable long-term business model.
Read also: La SEC lance « Project Crypto » pour refonder la régulation des actifs numériques
