Trump Media charges traders up to $100,000 monthly for early Truth Social access

More than ten firms have signed on to pay for Trump Media’s newly launched service that grants faster access to market moving posts published on its Truth Social platform, the company disclosed during an earnings call this week.

The service, called Truth API, went live at the start of August and gives Wall Street traders early visibility into posts from the platform’s most influential accounts before the general public sees them. Interim chief executive Kevin McGurn said the earliest subscribers are largely high frequency trading firms, which pay between $60,000 and $100,000 a month for the access. McGurn detailed the pricing during a call held after Trump Media reported a net loss of $238 million for the April through June quarter, a figure more than ten times larger than the loss the company posted during the same period a year earlier.

The steep quarterly loss comes as Trump Media and Technology Group has expanded into ventures far removed from its original media business, including cryptocurrency holdings. Despite still operating at a loss overall, the company says it intends to refocus on its core social media mission going forward. In July, the firm unveiled plans to offer Wall Street firms and institutional investors expedited access to posts on Truth Social, a platform where President Trump regularly shares public announcements. Critics have described the arrangement as a potential edge for subscribers looking to trade stocks and other actively traded assets ahead of market moving news.

The initiative has also raised legal and ethical questions, particularly around the fact that a company in which the president’s family holds a majority stake could financially benefit from his own public statements reaching paying subscribers faster than the general public.

In its earnings statement released Monday, Trump Media described the new offering as a service expected to generate a new revenue stream for the company. McGurn said executives believe the product will grow into a meaningful and durable source of income alongside the company’s broader media strategy, which already includes advertising and digital asset ventures. He added that Truth Media is also exploring potential partnerships with technology companies, news organizations and betting markets.

The company reported revenue of $1.7 million for the quarter, an 89 percent increase compared with the same period last year, though the overall loss stemmed largely from declining cryptocurrency values. Trump Media said it closed the quarter holding total assets of $2 billion, including roughly $1.9 billion in financial assets made up of cash, short term investments and digital currencies. The firm continues to expand into new territory, including additional cryptocurrency holdings and clean energy investments.

Markus Thielen, an analyst at 10x Research, described Trump Media as functioning more like a crypto holdings firm wrapped around a media company, noting that the bulk of its recent losses trace back to that crypto focused strategy. He said the company is working to diversify beyond its digital asset exposure into areas like social media services, though those newer ventures have not yet produced significant revenue. Earlier this month, Trump Media abandoned a planned partnership with Crypto.com that would have introduced prediction market features on the Truth Social platform.