Trump Media & Technology Group Corp. (DJT)’s Loss Widened to $238 Million. Its New Data Feed Is Already Making Money

On August 10, Trump Media & Technology Group Corp. (NASDAQ: DJT ) reported a second-quarter net loss of $238.1 million, up sharply from about $20 million a year earlier. The wider loss came mostly from more than $190 million in losses tied to its digital asset and equity holdings, as crypto prices came under pressure during the quarter.

The company's actual media business barely grew, while its crypto holdings are what's driving the massive loss. That raises the real question: is Trump Media becoming a genuine media and data company, or is it still mostly a crypto bet wrapped around a social media platform?

Trump Media (NASDAQ:DJT) launched a new data feed called Truth API on August 1. It gives fast access to posts from key Truth Social accounts, including President Trump's. The company has already signed more than 10 customer deals since its August 1 launch. Most of these buyers are high-frequency trading firms, and they are paying $60,000 to $100,000 every month. Interim CEO Kevin McGurn said the product "is already generating revenue." Total revenue of $1.7 million was up 89% year over year. McGurn also called the pending merger with fusion energy developer TAE Technologies "the single most important driver of long-term value" for the company and said progress toward that deal continues.

Operating expenses of more than $165 million were roughly 275% higher year over year, driven mainly by the volatility of the company's crypto holdings, according to CFO Phillip Juhan. The New York Times reported that Truth Social's own traffic, already far behind rivals like Elon Musk's X, fell sharply this summer. TAE Technologies's fusion power technology has no commercial plants generating electricity anywhere in the world today, which means the company's stated biggest growth driver remains an unproven, long-horizon bet. Trump Media & Technology Group Corp. (NASDAQ:DJT) has also pulled back from two agreements with Crypto.com as it tries to refocus on its media business.

Trump Media & Technology Group Corp. (NASDAQ:DJT) was held by just 17 hedge funds as of Q1 2026, down from 21 the prior quarter.

Truth API gives Trump Media a real, if small, new revenue stream. But the crypto losses that drove this quarter's loss show how exposed the company remains to markets far outside its media business.

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