Trump Media Signs Up 10+ Clients for $60k-$100k/Month Truth Feed

Trump Media has disclosed that over 10 customers have signed up for its Truth Social feed, with the company charging between $60,000-$100,000 per month for the service. This development comes as the company reported a quarterly loss of $238 million, largely due to losses in its cryptocurrency holdings.

The Truth API service, which launched at the beginning of August, gives Wall Street traders first sight of posts from the social media site's most influential accounts. The company's interim CEO, Kevin McGurn, said the service is expected to provide a new revenue stream.

Trump Media's revenue rose 89% to $1.67 million in the second quarter, despite the significant loss. The company's losses were largely due to unrealized losses tied to its cryptocurrency assets, which included 14,139 BTC as of July 31.

The company is exploring opportunities with technology firms, news organizations, and betting markets, and is merging with fusion energy company TAE Technologies. McGurn stated that the company is making progress toward the proposed merger, which is an ambitious bet on the power boom spurred by artificial intelligence data centers.

## Why it matters The launch of the Truth API service has raised legal and ethical questions, including whether it is right that a company, of which the president's family remains the majority shareholder, stands to potentially profit from his own public statements. The service has been viewed as a way to give subscribers an edge in trading stocks and other heavily traded assets.

The company's significant quarterly loss and its foray into unrelated ventures, including cryptocurrencies, have raised concerns about its financial stability. However, the growth in revenue and the signing of over 10 customers for the Truth API service suggest that the company may be generating new revenue streams.

## What happens next Trump Media will continue to add partners for the Truth API service and work toward its proposed merger with TAE Technologies. The company will also focus on its social media mission and explore new opportunities with technology firms, news organizations, and betting markets. As the company navigates its financial challenges, it will be important to monitor its progress and the impact of its new revenue streams on its overall financial performance.