Trump Media's new Truth API service, launched in August, charges Wall Street trading firms $60,000 to $100,000 a month for faster access to posts from Truth Social's most influential accounts — chiefly, one assumes, the platform's founder, who frequently moves markets with his announcements. More than ten customers, mostly high-frequency trading firms, have already signed up, according to interim CEO Kevin McGurn. The launch came the same quarter Trump Media reported a $238m loss, more than ten times the prior year's, driven largely by a slump in its cryptocurrency holdings.
The company posted just $1.7m in revenue, up 89% year-on-year but nowhere near covering the loss, and is also branching into betting markets and clean-energy investments. It scrapped a prediction-market partnership with Crypto.com earlier this month. Legal and ethical questions have been raised, unsurprisingly, over a company majority-owned by the president's family potentially profiting from his own public statements.
The full dispatch is available from the source below.