Truth Social’s Truth API has more than 10 HFT subscribers paying $60,000–$100,000 monthly for machine-readable early access to market-moving posts, generating potentially over $1 million a month and prompting talks with AI firms and a planned retail-trader tier. However, Trump Media reported a $238 million Q2 net loss on $1.7 million revenue as unrealized markdowns on Bitcoin and equity holdings drove the shortfall, faces regulatory scrutiny and calls for an SEC probe over selling presidential market-moving information, and shares are down 9% in five days.

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In Brief

Trump Media has already collected potentially over $1 million from trading firms.
More than 10 firms pay $60,000 to $100,000 monthly for early access.
Trump Media posted a $238 million quarterly loss despite the new revenue.

Trump Media could have already made more than $1 million from trading firms paying for early access to President Trump’s Truth Social posts, the company confirmed Monday.

More than 10 high-frequency trading firms subscribed to the service, called Truth API. They pay between $60,000 and $100,000 a month for faster access to market-moving posts.

How Truth API Works

Truth API launched in early August. It gives subscribers machine-readable access to posts from Truth Social’s most-followed accounts, including Trump’s own.

At $60,000 to $100,000 a month, more than 10 subscribers already generate potentially over $1 million in monthly fees. Interim Chief Executive Officer Kevin McGurn disclosed the fee range during Trump Media’s first-ever earnings call. He called the early rollout “the early innings.”

Trump: The Ultimate Market IndicatorAmong all market indicators, Trump remains one of the best.Last year in early April 2025 (around April 9), while markets were tanking amid the tariff panic and many 'fake furus' were screaming to stay in cash and hoard reserves, Trump…
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McGurn said the company is also in active talks with artificial intelligence firms. He added that a retail-trader tier is coming eventually.

Lawmakers Push Back

Lawmakers have criticized the arrangement. They argue it lets a company majority-owned by Trump’s family profit from his own market-moving statements.

Representative Jamie Raskin sent a letter to McGurn in late July. He demanded a full list of subscribers as scrutiny grew over Truth Social subscription fees.

Democratic lawmakers separately pushed for a formal SEC investigation demand into the service. They argue it effectively sells access to market-moving information tied to the presidency.

A Loss-Making Business for Trump

Meanwhile, Trump Media’s underlying business still loses money despite the new revenue stream. The company’s second-quarter net loss reached $238 million, more than 10 times the loss reported a year earlier.

Revenue totaled just $1.7 million, up 89% year over year. However, unrealized markdowns on Bitcoin and equity holdings drove most of the shortfall.

Analyst Markus Thielen of 10x Research offered a blunt assessment. He told the BBC that Trump Media operates more like a crypto fund than a media company.

What Comes Next

Trump Media recently walked away from a planned prediction-market venture with Crypto.com. The move fits a broader crypto ambitions pullback under McGurn.

The company also still aims to close a merger with fusion firm TAE Technologies. McGurn originally expected that deal to close months ago.

Shares are down 9% in the past 5 days after a recent rally. Investors now watch whether Truth API becomes the durable revenue source McGurn promises.

Read the article at BeInCrypto