Trump media reports $238 million loss as crypto strategy takes heavy hit
Trump Media and Technology Group, the owner of Truth Social, has reported a $238 million loss for the second quarter, despite an 89% increase in revenue to $1.7 million. The company ended the quarter with $2 billion in total assets, including $1.9 billion in cash, short-term investments and digital currencies.
Now, Trump Media is looking to diversify through TruthAPI, which gives Wall Street traders and influential users faster access to market-moving posts on Truth Social. More than 10 customers have signed up, paying between $60,000 and $100,000 per month.
The company is also exploring clean-energy investments, betting markets and technology partnerships, while facing legal and ethical questions over profiting from President Trump's public statements.
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