Tuesday, 11 August, 2026
Truth Social Parent Hits the Brakes: Q2 Loss Balloons to $238 Million
By TechShots Studio
Trump Media reported a $238 million Q2 loss, widening dramatically from $20 million a year earlier, driven largely by paper losses on cryptocurrency holdings and expansions beyond media. Despite revenue doubling to $1.7 million, new CEO Kevin McGurn announced the company is abandoning initiatives like online betting and crypto to refocus on its core social media platform and paid API data licensing.
Read full story at REUTERS