Trump Media's service, Truth API, allows more than 10 firms to access faster posts from influential accounts on its Truth Social platform for between $60,000-$100,000 per month. The company reported a loss of $238m in the second quarter, but interim CEO Kevin McGurn believes the new revenue stream will be "meaningful" and "durable". Trump Media's quarterly losses are more than 10 times those of the same period last year, with the bulk of its losses coming from its cryptocurrency strategy. The company is diversifying beyond crypto, including expanding into social media ventures and clean-energy investments.
Written by the local model on 2026-08-21,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Donald Trump's company, Trump Media & Technology Group (TMTG), is facing a lawsuit over its new service, Truth API, which charges up to $100,000 (£74,000) per month for fast access to posts on Truth Social, the social media platform used by Trump and other high-profile accounts. The lawsuit was filed in New York federal court by two US media groups, The Intercept and Freedom of the Press Foundation. They argue that selling priority access to the president's messages is "extraordinary, corrupt, and unconstitutional" because it gives an unfair advantage to those who can afford it, allowing them to react first to market-moving information. TMTG has dismissed concerns about the paid service, calling the lawsuit a attempt by "left-wing activists" to censor Trump. The service was launched in mid-July and charges between $60,000-100,000 (£44,000-£74,000) per month for high-frequency trading firms, with more than 10 customers already signed up.
Written for “Trump's Truth Social Service Lawsuit” on 2026-08-31,
grounded in this article and the 1 other(s) covering the same event.
Why this leaning score
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Leaning score -0.35 for article 657 (medium confidence, 1 verified quote) · logged 2026-08-27
- Published
More than 10 customers have signed up to Trump Media's controversial service that offers faster access to market-moving posts made on its Truth Social platform.
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that → publish → platform
The service, Truth API, launched at the beginning of August and gives Wall Street traders first sight of posts from the social media site's most influential accounts.
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service → launch → accounts
Its earliest customers are mostly in high-frequency trading firms who are being charged between $60,000-$100,000 (£44,000-£74,000) a month for the service, interim chief executive officer Kevin McGurn said during an earnings call.
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McGurn → charge → call
He was speaking after Trump Media reported a loss of $238m between April and June.
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Media → speak → April
The quarterly loss is more than 10 times the amount reported during the same period a year earlier, according to the Trump Media and Technology Group, and comes as the group branched into ventures unrelated to media, including cryptocurrencies.
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group → report → cryptocurrencies
The group, which is yet to make a profit, says it will refocus on its social media mission.
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it → make → mission
In July, it announced a plan to give Wall Street firms and institutional investors faster access to posts on Truth Social, where Trump frequently makes announcements.
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Trump → announce → announcements
It has been viewed as a way to give subscribers an edge in trading stocks and other heavily traded assets.
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It → view → stocks
The move has prompted 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.
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family → prompt → statements
The new service is "expected to provide the company with a new revenue stream," Trump Media said in its earnings statement on Monday.
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Media → expect → Monday
The firm believes the service will develop into a "meaningful" and "durable" source of revenue, on top of the company's broader media strategy which includes advertising and digital assets, McGurn said.
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McGurn → believe → advertising
Truth Media is also exploring opportunities with technology firms, news organisations and betting markets, he added.
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he → explore → firms
The BBC has contacted Trump Media and Technology Group for further comment.
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BBC → contact → comment
The company posted $1.7m in revenue, which it said was up 89% from the same period a year before, but suffered an overall loss due to the drop in cryptocurrencies.
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it → post → cryptocurrencies
It added that it closed the second quarter with total assets of $2bn and financial assets of about $1.9bn, which includes cash, short-term investments and digital currencies.
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which → add → cash
The group is expanding into areas including cryptocurrency holdings and clean-energy investments.
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group → expand → holdings
Trump Media is more of a crypto holdings firm "wrapped around" a media company, and the bulk of its losses have come from that strategy, Markus Thielen, an analyst from 10x Research, told the BBC.
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Thielen → wrap → BBC
The company is diversifying beyond its crypto business into areas such as social media, though those ventures have yet to generate significant revenue, Thielen said.
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Thielen → diversify → revenue
Earlier this month, Trump Media scrapped plans for a project with Crypto.com to introduce prediction market features on the Truth Social platform.
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Media → scrap → platform
