The company Trump Media & Technology Group is a co-owner of the social media site Truth Social - where US President Donald Trump is very active - and in recent years has also focused on investments in cryptocurrency.
As a result of falling cryptocurrency prices, the company is now reporting a loss of approximately SEK 3.7 billion for the first quarter, reflecting a decline in the value of the investments.
At the same time, the company had sales of approximately $900,000 for the quarter, which is modest given that the company is valued at $2.47 billion on the stock exchange, according to AFP.
