Trump Media pivots to Truth API licensing

Trump Media & Technology Group reported a Q2 net loss of $238 million, driven largely by unrealized and non-cash losses from cryptocurrency holdings and related securities, even as revenue rose 89% to $1.7 million on the expansion of Truth API data licensing and other ventures. The company disclosed about $1.9 billion in financial assets and significant Bitcoin and Cronos holdings, noting much of the drawdown stemmed from markdowns in these assets. Management attributed the loss to price volatility of digital assets, non-cash accounting items, and legacy litigation costs, while stressing operating cash flow and liquidity. In response to results and market pressures, the firm signaled a strategic pivot back toward its social-media core, planning to abandon or scale back crypto and online betting and to refocus on Truth Social. Truth API is highlighted as a key monetization effort, offering licensed real-time access to posts for Wall Street firms, with at least ten customer agreements reported. The earnings release noted the company maintains a strong asset base and will accelerate efforts around data licensing and monetization of its platform.