Truth Social, the platform owned by Trump Media, has introduced a premium subscription aimed at Wall Street, offering rapid insights into influential posts. With this new product, the firm has signed up more than ten customers, even as it continues to face heavy financial losses and pursues interests in cryptocurrency and clean energy.
The Truth API, as the new service is called, provides faster access to posts likely to affect financial markets on Truth Social, specifically targeting high-frequency trading clients. Interim CEO Kevin McGurn revealed in a recent earnings call that these initial subscribers—over 10 from the trading arena—are being charged monthly subscription fees of between $60,000 and $100,000 (£44,000 to £74,000).
Company Reveals Soaring Losses
Following these developments, Trump Media and Technology Group (TMTG) reported a steep loss of $238 million for the April to June quarter—more than ten times the year-ago figure. During the same period, despite a revenue growth of nearly 90% from the previous year, the business took in only $1.7 million in revenue.
According to McGurn, much of this financial decline is tied to TMTG’s recent entrance into digital assets and the volatile crypto markets. By the end of the second quarter, TMTG disclosed having total assets of $2 billion, with roughly $1.9 billion in financial assets consisting of cash, short-dated investments, and digital assets.
Premium Offering Attracts Both Demand and Debate
Making its debut in early August, the Truth API provides market players and institutional traders almost immediate updates from prominent users—including Donald Trump, who often posts major announcements on the network. This service potentially gives these subscribers a timely head start in reacting to news that moves the market, raising questions of fairness.
The introduction of this feature has generated scrutiny over legal and ethical implications, mainly because the Trump family still owns the majority of the company, presenting possible opportunities for profit from the former president’s public posts. Nonetheless, in Monday’s earnings update, TMTG described the Truth API as “expected to provide the company with a new revenue stream.”
McGurn described the new offering as potentially both “meaningful” and “durable” for the company’s future income, fitting into a wider strategy that encompasses advertising and investments in digital assets. He added that TMTG is also pursuing new collaborations with tech firms, news outlets, and betting operators.
Shift in Strategy and Abandoned Projects
Though TMTG has entered sectors like cryptocurrency and clean energy, the company announced its intention to return focus to its core social media operations. Markus Thielen of 10x Research remarked that Trump Media “resembles a crypto holdings company under the guise of a media business,” with its loss figures attributed to ambitious digital asset investments.
These ventures into emerging sectors have yet to yield meaningful new revenue. Earlier this August, TMTG cancelled a planned partnership with Crypto.com, which would have introduced prediction market tools to Truth Social—an indication that some diversification strategies are being reconsidered.
Trump Media and Technology Group has not issued further comments in response to inquiries.