Washington: The parent company of Truth Social, President Donald Trump's social media platform, reported a net loss on Friday of more than $400 million in the first quarter - mostly from tumbling cryptocurrency valuations. Trump Media & Technology Group (TMTG) reported revenue of less than $1 million for the three months ending March 31, according to a company filing. The president, who routinely uses Truth Social to make official announcements, controls about 41 percent of TMTG's shares, which are held in the trust established to manage his financial interests during his presidency. TMTG is also active in financial services, and the company announced $2.5 billion in funding a year ago to invest in cryptocurrencies, one of Trump's recent passions. But the plunge in digital currencies hit this part of the business hard as the price of Bitcoin tumbled from over $126,000 in early October to below $70,000 in March. It has since rebounded somewhat to over $80,000.…