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Trump Media's quarterly loss widens to $238 million from $20 million a year earlier
['Tue', 'August At Am Gmt', 'Min Read']
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Aug 11 (Reuters) - 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.
Its second-quarter net loss jumped to $238.1 million from about $20 million a year earlier, the company said in a statement.
Trump Media has discussed charging as much as $100,000 a month for the Truth API product, Reuters and other media outlets have reported.
"Our new Truth API product is already generating revenue, with more than ten customer agreements signed to date," the company's interim CEO, Kevin McGurn, said in a statement.
The company posted $1.7 million in revenue in the quarter ended June, compared with $0.9 million in the same period last year.