Trump Media posts $238m loss, refocuses on Truth Social

Trump Media & Technology Group, the parent of Truth Social, reported a $238.1 million net loss for the second quarter of 2026, a figure more than ten times the $20 million loss from a year earlier Source: AP News. The loss was driven largely by $190.4 million in unrealized losses on digital assets, pledged digital assets, and equity securities, as crypto prices slid Source: Cointelegraph. Revenue reached just $1.7 million, up 89% year-over-year Source: BBC.

Strategic pivot

Interim CEO Kevin McGurn announced the company will unwind much of its expansion into areas like online betting and crypto, refocusing on its core media business Source: The Guardian. The company will continue its planned merger with nuclear fusion firm TAE Technologies Source: AP News.

Truth API controversy

A key part of the new strategy is Truth API, a service that gives Wall Street firms early access to Trump's Truth Social posts for $60,000 to $100,000 per month Source: CNN. McGurn said more than 10 customers, mostly high-frequency trading firms, have signed up, potentially generating $7–12 million annually Source: AP News. The service has drawn criticism from Democrats and ethics watchdogs, who call it a conflict of interest Source: CNN. McGurn defends it as a standard industry practice Source: The Guardian.

Crypto treasury revamp

Trump Media plans a "more disciplined digital asset treasury management framework" to reduce volatility while maintaining long-term crypto exposure Source: Cointelegraph. The company increased its bitcoin holdings to 14,139 BTC by July 31, worth about $890.5 million Source: The Next Web. It also terminated a planned venture with Crypto.com Source: The Next Web.

Financial pressures

The company faces a potential early repayment demand on $1 billion in convertible notes on Nov. 30 Source: AP News. Truth Social's traffic remains tiny, with 261,300 daily active users in July, down 40% year-over-year Source: CNN.