Trump Media & Technology Group, founded by U.S. President Donald Trump and known for its Truth Social platform, reported a wider second-quarter loss, largely due to unrealized losses tied to its cryptocurrency assets. The company’s second-quarter net loss jumped to $238.1 million from about $20 million a year earlier.

Revenue and Partnerships

The company posted $1.7 million in revenue in the quarter ended June, compared with $0.9 million in the same period last year. Trump Media has discussed charging as much as $100,000 a month for its Truth API product, which will give banks and trading firms access to posts from influential Truth Social accounts.

The company said it had signed more than 10 customer agreements for the feed that launched on August 1, adding that it was continuing to add partners. Trump Media’s interim CEO, Kevin McGurn, stated that the company was making progress toward its proposed merger with fusion energy developer TAE Technologies.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.