According to an article by The Guardian on August 11, the media company of U.S. President Donald Trump, Trump Media Technology Group (hereinafter referred to as "Trump Media" or "the Company"), suffered a loss of $238 million (approximately 1.606 billion RMB) in the second quarter. The Company owns the social media platform 'Truth Social', which is highly favored by Trump.
Trump Media reported on Monday that the company achieved revenue of $1.7 million in three months ending June 2026, an increase of more than one fold. However, the company also incurred a loss of $238 million, due to the expansion of new businesses including cryptocurrencies during that period. Kevin McGuane, the company's new CEO, announced during a conference call about financial results that after a year of efforts in expanding online gambling and cryptocurrency businesses, the company will focus again on social media.
McGregor stated: “We made a cautious choice to adjust our direction in order to allocate more time and resources to our most important projects… We will be able to appropriately decline certain matters, or change our course when necessary.”
One of the key aspects of the company’s new strategy was the launch of the “Truth API” service on August 1st. This service allows Wall Street trading companies to access previews of posts made by Trump and other popular users on the “Real Social” platform. These trading companies can thus get early insights into significant policy statements made by Trump on the platform, thereby gaining profits during subsequent stock market, bond market, and interest rate fluctuations.
McGear said that the new Truth API service costs $60,000 to $100,000 per month. He also mentioned that Trump's media has signed contracts with 10 clients, most of whom are high-frequency trading companies.
Both the paid service and the media company have been criticized by regulatory agencies. Katherine Clark, a professor at Washington University Law School in Saint Louis, told The Associated Press last month: "Trump is selling access to accelerated information about the actions he took as president. This is just another form of shameless corruption, an improper use of government power for personal gain."
McGowan disdained such accusations and pointed out that other companies also sold special expedited access rights to traders.
He said, “What we do is no different from other companies. Providing authorized real-time public data through commercial APIs is a well-established business practice recognized in the technology, financial information, and media industries.”
However, despite Trump's media focus returning to social media, McGahn also stated that the company will continue to pursue a new business that was previously announced: nuclear fusion.
In 2025, Trump's media outlets announced that he would merge with the energy company TAE Technologies. He stated that the company will continue to work towards completing this transaction by the end of this year.
As of the end of the second quarter, Trump’s media holdings included over $400 million in cash and short-term investments. Additionally, he owned $1.2 billion in Bitcoin and related crypto assets.
