Trump Media sells Truth Social data access for up to $100,000 monthly amid scrutiny

Trump Media & Technology Group is seeking to boost its growth by offering faster access to posts on its Truth Social platform through a new service called Truth API. CEO Kevin McGurn announced that over 10 customers, mostly high-frequency securities trading firms, have signed up for the data feed, paying between $60,000 and $100,000 monthly. These firms aim to gain an edge by potentially seeing President Trump's posts milliseconds before the general public, which could influence investment decisions on topics like tariffs and foreign policy.

Financial experts have raised ethical concerns about this practice. McGurn indicated that Trump Media is also in discussions with major cloud computing firms, artificial intelligence companies, and news organizations about Truth API access. The company eventually plans to offer the data feed to retail investors.

Trump Media, founded in 2021, has struggled to achieve consistent profitability. Advertising revenue on Truth Social decreased in the second quarter. To stimulate growth, the company has diversified into new areas, including launching ETFs with patriotic themes and acquiring cryptocurrencies to become a crypto treasury firm. It is also merging with fusion energy company TAE Technologies.

In its second quarter, Trump Media's revenue increased by 89% to $1.67 million, but its losses expanded tenfold to $238 million, largely due to a decline in the value of its cryptocurrency holdings. The Truth API, announced in July, could become a significant revenue source by monetizing President Trump's public statements, potentially the company's most valuable asset.

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We're encouraged by the early demand for Truth API, and we look forward to rolling out the product to other sectors, including retail investors.