ALBAWABA - Trump Media recently offered a controversial service to the tune of $100,000 which gives early access to Trump’s Truth Social posts before they become available to the public – 10 firms have already signed up.
The service, called Truth API, came online at the beginning of August and has been giving Wall Street traders early access to Trump’s posts; allowing them to be the first to see the highly market-influencing posts, right after Trump.
Trump Media reported a loss of $238 million between April and June of this year, more than 10 times the loss of last year; the group, which is yet to make profit, is leaning into social media to boost its earnings.
The controversy comes in the form of whether it is right for a company whose major shareholders are the president’s family members to potentially profit from the president’s public statements.
Trump Media said that their move is “expected to provide the company with a new revenue stream,” in an earnings statement on Monday, believing that it will develop into a “meaningful” and “durable” source of revenue for the company.
