tech
Trump's media company, which also owns Truth Social, reports $238m loss
Company also announced a paid service for early access to president’s posts on policies to the social media site
TL;DR
- Trump Media & Technology posted a $238 million loss in the second quarter.
- The company is refocusing on its social media platform, Truth Social.
- A new service, Truth API, will sell early access to Trump's posts to trading firms for $60,000-$100,000 per month.
- The company plans to continue a previously announced venture into nuclear fusion with energy company TAE Technologies.
- Revenue in the second quarter was $1.7 million, more than double from the previous year.
- The company has $1 billion in debt due in 2028 but has over $400 million in cash and $1.2 billion in bitcoin assets.