Track market-moving stories before they get noisy

Rising Treasury yields and surging oil prices are creating a punishing combination for speculative small caps, and Trump Media stock is absorbing far more pain than the broader market suggests it should.

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Tuesday’s session opened with a clean risk-off signal across rate-sensitive corners of the market, and speculative small caps are absorbing the brunt of it. A combination of rising long-term Treasury yields, a jump in oil, and thinning appetite for unprofitable names is putting pressure on low-priced, high-beta tickers whose valuations rest on future potential rather than current cash flow.

Trump Media & Technology Group (NASDAQ:DJT) stock is down 3% to $9.48 in morning trading. Coming into the session, DJT shares were already down 26% year to date through Monday’s close, so today’s move extends a weak run rather than breaking a trend. No verified company announcement sits behind the drop.

For scale on the broader market, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.56% to $762.76 in early trading. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is down 1.18% to $708.27. Trump Media stock is falling many times harder than either broad-market gauge, which points to a beta and liquidity event rather than a fundamental catalyst.

Yields and Oil Squeeze Risk Appetite A global bond selloff has lifted long-term yields, with the 10-year Treasury note yield at 4.78%. Higher yields raise the discount rate applied to future cash flows, which lands harder on speculative equities than on profitable large caps that already generate steady earnings.

Reuters reported on September 1 that oil is rising as renewed U.S.-Iran strikes stoke supply fears, with Brent crude past $91 and the Strait of Hormuz reported shut. Higher energy costs feed inflation expectations, part of what is pushing yields up, and both compress appetite for unprofitable small caps. The two forces layer on each other, which is why the market rewards duration-light, cash-generative names on days like this.

Why Trump Media Reacts More Than the Tape Trump Media sits at the far end of the duration and profitability spectrum. Its valuation rests on future potential rather than current cash generation, so a higher discount rate and a weaker risk appetite hit harder there than on names carrying steady earnings and shorter valuation duration.

The conversation is robust among today’s traders and isn’t necessarily focused on Trump Media’s fundamentals. That absence of a company-specific driver is consistent with a macro-led session shaping the session, not a name-specific catalyst reaching the ticker overnight.

The crypto link matters today, because crypto-adjacent equities are also selling off in this session. CNBC reported on August 10 that Trump Media posted a $238 million second-quarter loss as crypto declines weighed on results, and the Associated Press reported the same day that the company announced a new turnaround effort. Both threads leave the equity more exposed to a macro pullback that pressures digital assets and speculative caps together.

Peer Names and the Sector Frame Rumble (NASDAQ:RUM) is the other listed alternative media platform mapped to the same retail-driven, high-beta bucket. Its float, price level, and beta profile make it a common comparison point whenever risk appetite swings, and its trading pattern often echoes the same discount-rate mechanics that reach DJT.

The Global X Social Media ETF (NASDAQ:SOCL) covers the broader social platform group and holds both Trump Media and Rumble as small weights. Larger positions in global mega-cap social and internet names dominate the fund’s movement, so SOCL usually tracks that broader cohort more than it tracks either alternative media ticker.

What to Watch Market watchers can stay tuned for whether the 10-year yield settles back below 4.75%, whether Brent stabilizes after the Hormuz headlines, and whether Trump Media holds its early lows into the afternoon. Any easing on those macro inputs would carry more weight than a single company data point on a session like this one.

For position sizing, low-priced, high-beta small caps carry outsized session risk on risk-off tapes. Investors should size any DJT or RUM exposure to their tolerance for double-digit intraday swings and treat liquidity, not fundamentals, as the near-term driver here. A tight risk budget and pre-set stop levels fit this profile better than open-ended holds (we laid out the sizing and rules for keeping a speculative sleeve small in a free playbook).

Contact [email protected] for any questions or corrections.

Rumble stock is taking a sharp hit Wednesday morning with no news, no filing, and no analyst action to explain it, while the name most traders assume moves with it is barely reacting at all.

Profit-taking is sweeping through Rumble on Wednesday morning after a blistering one-month advance, while the broader NASDAQ 100 barely budges. Invesco QQQ Trust (NASDAQ:QQQ) is up 0.1% to $711.63, which removes any sector-wide alibi for what’s happening in Rumble stock. This one is name-specific.

Rumble (NASDAQ:RUM) stock is down 7% to $9.53 in early Wednesday trade after climbing 79% over the past month through Tuesday’s close. Meanwhile, the other name commonly associated with the same political orbit, Trump Media & Technology Group (NASDAQ:DJT), is barely moving. Trump Media stock is up 0.4% to $9.44, a session change that doesn’t read across from Rumble’s giveback in any meaningful way.

Profit-Taking Cools a 79% Monthly Run There’s no fresh Rumble disclosure, filing, or analyst action behind today’s decline. The mechanism is plain profit-taking after a very large one-month advance, and no new company news is driving the move. Traders who rode Rumble stock through a 79% monthly run have reason to trim their positions when momentum stalls.

Rumble’s advance this month followed management commentary around its cloud and AI infrastructure ambitions, including remarks positioning the company against established AI cloud providers. That narrative fueled the size of the run and drew fresh momentum capital into the stock. Today’s session sits inside that trend as a routine giveback within the broader story.

A 7% single-session pullback in a name that has climbed 79% in a month sits inside the normal range of momentum-stock behavior. It doesn’t require an external catalyst to explain, and the session today confirms that read.

Divergence With Trump Media Tells the Story Both Rumble and Trump Media get grouped together on political association, yet their share prices haven’t been trading as a pair. Rumble stock ran 79% over the past month through Tuesday’s close. Trump Media stock was down 29% year to date (YTD) through Tuesday’s close, a very different path.

Rumble’s move is being driven by an infrastructure story around cloud and GPUs that Trump Media has no equivalent business line to match. That is the analytical core of the divergence, and it explains why a profit-taking session in Rumble reads across to Trump Media not at all. Trump Media stock is only marginally higher this morning even as Rumble stock is dropping 7%, a reasonable session pairing given the underlying business separation.

What to Watch Next Rumble and Trump Media are both low-priced, high-volatility names where a large monthly advance can reverse quickly. Traders can watch for whether Rumble stock stabilizes into the afternoon or whether the profit-taking accelerates as more short-term holders take their gains off the table. The QQQ’s quiet session removes any macro cover for the move, so any further downside will read as name-specific.

Investors should size their positions carefully in names of this profile (we wrote a full playbook on speculating with just 5% of a portfolio, here). A 79% one-month advance carries mechanical selling pressure once momentum stalls, and a 7% single-session giveback can extend without any headline attached to it.

Shareholders may want to keep an eye on whether Trump Media stock continues to trade independently of Rumble stock in coming sessions, since that pattern would confirm the two names are being priced on different fundamentals rather than on shared political sentiment.

Contact [email protected] for any questions or corrections.

Interim CEO Kevin McGurn at Trump Media & Technology Group (NASDAQ:DJT) used a television appearance on CNBC to defend the company’s newest revenue product, the Truth API, describing the underlying technology as standard practice across large social platforms. Speaking on CNBC on August 24, 2026, roughly four months into the role, McGurn framed the paid data feed as a response to institutional demand and a scalable licensing opportunity for the company.

The product, which launched on August 1, 2026, offers institutional customers low-latency access to public Truth Social posts. Trump Media disclosed more than ten customer agreements at the time of its Q2 report, and McGurn told CNBC the company had signed one of the largest financial data and information distributors at the end of last week.

McGurn’s Three-Part Defense of the Truth API McGurn’s argument rested on three points:

First, he characterized the demand as organic: “This was demand that came to us from the market. So we wanted to make sure that we satisfy that demand in the most brightly lit way for us.”

Second, he described the underlying technology as commonplace across social media: “The technology is a tried and true technology that’s been in the social media system for quite some time, more than a decade. So all of your big platforms run APIs into high frequency trading platforms, news and information services, prediction markets, you name it.”

Third, he framed the 50 millisecond speed advantage as a byproduct of internet delivery paths: “His information goes out all over the internet. It starts on Truth Social. It goes to Twitter, it goes to Reddit, and it goes to Instagram and TikTok. We give a 50 millisecond advantage in that post, but that is the internet delivery, right?”

He drew an analogy to legacy news access: “It’s the same reason why you have reporters on Air Force One. It’s the same reason why you have a White House press room, to get closer to the information.” McGurn did not directly address the central concern raised by critics, that family ownership of the company creates a conflict-of-interest question when institutional traders get earlier access to potentially market-moving presidential statements.

Congress and the Courts Are Starting to Push Back Senate Democrats have proposed legislation targeting the Truth API, and lawsuits have been filed alleging the president is unconstitutionally monetizing his position. These remain allegations and pending matters.

Economist Peter Schiff has publicly argued that presidential ownership makes the arrangement “not standard,” a view McGurn’s industry-comparison framing implicitly contests.

Trump Media Wants to Take the API From Wall Street to Main Street CEO McGurn outlined plans to expand distribution: “We want to license this not just to high-frequency trading platforms, but to retail trading platforms. So you take it from Wall Street to Main Street, and then go on to other types of information services.” He mentioned large language models and prediction markets as additional targets.

Trump Media reported Q2 revenue of $1.70 million, up 92.46% year over year, and a net loss of $238.11 million driven largely by $190.40 million in non-cash unrealized losses on digital assets and equity securities, per the Q2 earnings release. Shares closed at $9.30 on August 22, down 29.76% year to date and 47.64% over the trailing year.

Key Takeaways The open question for investors is whether Truth API revenue can scale into retail brokers, LLMs, prediction markets, and major data distributors while regulatory and legal scrutiny remains unresolved. McGurn, who has worked in the media business for almost 30 years, is betting the answer is yes. Watch quarterly disclosures on customer count and Truth API bookings, alongside the proposed Q4 2026 close of the TAE Technologies merger, for the next update.

Contact [email protected] for any questions or corrections.

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Trump Media interim CEO Kevin McGurn on Monday defended his company offering faster access to President Donald Trump's Truth Social posts, and said more customers have signed up for the pricey and controversial service.

"We're getting into the mid-teens now, and we're climbing," McGurn told CNBC's "Squawk Box" when asked if more companies had started paying for the service dubbed Truth API, which costs up to $100,000 per month.

That's an increase from two weeks earlier, when McGurn said in Trump Media's first-ever quarterly earnings call that "more than 10" customer agreements had been signed. The service went live on Aug. 1.

Truth API has garnered intense scrutiny from critics who argue that since the president often makes market-moving announcements through his Truth Social account, the service effectively lets deep-pocketed firms trade on valuable information before the rest of the public. Trump is a top shareholder in TMTG, with his stake being held in a revocable trust.

This is breaking news. Please check back for updates.

Trump Media stock has come under intense pressure this month as it continued to underperform the broader market. DJT dropped to $8, its lowest level since July 8 and 40% lower than where it started the year. This sell-off may push it into penny stock status in the next 12 months.

Trump Media may become a penny stock because of its revenues and substantial losses. A recent report showed that it made just $1.7 million in the last quarter, a tiny amount for a company that was started five years ago. At the same time, it reported a quarterly loss of over $238 million. 

Worse, there are signs that this slow revenue growth will persist over time as the number of Truth Social users continues to dwindle. SimilarWeb data shows that traffic to the website tumbled by 20% in July to just 15 million. 

This weakness has coincided with the ongoing approval rating of the US president. Recent data shows that his approval rating has dropped to the lowest level on record, with his support falling across various demographics. For example, a Politico poll showed that he was losing support of MAGA voters. 

Trump has lost the support of both sides of the Republican base. Neocons argue that he has not pushed Iran further enough, while anti-war Republicans criticize him for starting a new war. Also, he has been criticized for his vanity projects and the ongoing inflation concerns.

Another crucial risk is that Trump Media will be investigated by Democrats if they win either the House of Representatives or the Senate.

A key part of this investigation will be on the recently launched Truth API, a service that fives subscribers early access to President Trump’s posts. Launched recently, and costing between $60,000 and $100,000 a month. In a recent statement, the company said that it had acquired about 10 clients in the trading industry.

Democrats will investigate whether the service has broken any laws. Even if the service is successful, it will have a short shelf life because Trump’s presidential term ends in the next two years. 

Additionally, Trump Media’s crypto pivot has flopped. For one, its plans to launch several crypto ETFs in a partnership with Crypto.com failed because of the ongoing crypto winter. 

The company’s decision to invest in Bitcoin also failed as the coin has slumped from a record high of $126,300 to the current $64,000. This means that the value of its 12,062 coins has dropped from over $1.5 billion to the current $771 million.

While these crypto holdings are still valuable, they are offset by the huge losses the company is making. As a result, there is a risk that it will need to sell shares to raise capital.

DJT stock chart | Source: TradingView

Technicals also suggest that the DJT stock may have more downside to go in the near term. It has formed a rising wedge pattern, which is made up of two rising and converging trendlines. This pattern normally leads to more downside.

The stock has also moved to the strong, pivot, reverse level of the Murrey Math Lines. In the long term, the most likely scenario is where it drops to the ultimate support of $6.25 followed by the extreme oversold of $4.65.

Kevin McGurn, the company's interim CEO, reported the disposition of 16,509 shares of Trump Media & Technology Group Corp. (DJT -0.36%) on August 13, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$137,520Shares sold16,509Post-transaction shares (directly held)120,811Post-transaction value$1.00 millionTransaction value based on SEC Form 4 weighted average sale price ($8.33); post-transaction value based on the August 13 market close ($8.30).

Key questionsWhat triggered this specific disposal of equity?
The transaction was a non-discretionary execution to cover tax withholding obligations resulting from the settlement of restricted stock units. No open-market sales occurred, and the interim CEO received no cash proceeds from the event, which was an automatic consequence of equity vesting.How does this impact the insider's total direct position?
After the disposal of 16,509 shares, McGurn retains a direct ownership of 120,811 shares. This remaining stake represents a roughly 0.04% interest in the company and is the primary component of his disclosed beneficial ownership, as no indirect holdings or separate derivative counts were reported in the current filing.What are the terms governing the insider's remaining restricted equity?
Footnotes in the filing clarify that a portion of the reporting person's holdings consists of restricted stock units. These units represent contingent rights to receive common stock, subject to vesting schedules and the conditions of the company's 2024 equity incentive plan.Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market capitalization of $2.3 billion and minimal current revenue generation of $4.5 million TTM, the company remains in an early stage development phase with substantial operating losses. The organization is focused on scaling its social networking platform to achieve profitability and establish competitive positioning within the crowded social media landscape.

What this transaction means for investorsA withholding this small from an interim CEO barely registers on its own, but it's worth noting that the transaction lands as Trump Media is remaking what it fundamentally is. The company is pivoting from a money-losing social media operation into something closer to a Bitcoin holding company, and that shift now drives nearly everything about the stock, including a share price that has fallen more than 50% over the past year.

The scale of the transformation is stark. Truth Social generated just $1.7 million in second-quarter revenue, while the company reported a $238 million net loss, almost entirely from mark-to-market declines on its digital-asset holdings. It holds roughly 14,139 Bitcoin after buying more in July, so the balance sheet is effectively the business now, with McGurn saying the company has "refined" its approach to capital allocation. Meanwhile, the company has also pivoted again within crypto, walking away from a planned Cronos treasury venture and moving toward third-party institutional management of its coins, along with pursuing a proposed merger with nuclear fusion firm TAE Technologies.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Shares of Trump Media & Technology (DJT +0.96%) fell 18.1% this week, according to data from S&P Global Market Intelligence. The holding company for the Trump family media businesses reported earnings earlier this week, posting large losses on its cryptocurrency assets as it searches for a business model.

Shares are now down 87% from the time of Trump Media's merger with a special purpose acquisition corporation (SPAC) in March of 2024. Here's why shares fell this week, and whether now is a good time to buy the dip.

Today's Change

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Selling posts, huge losses On August 10, Trump Media & Technology reported its Q2 earnings. The company generated just $1.7 million in revenue in the quarter, mainly from advertising on the Truth Social platform. However, it had a net loss of $238 million, mainly due to the decline in digital cryptocurrency assets held on its balance sheet, such as Bitcoin.

The company has two new initiatives for the rest of this year. First is the merger with a nuclear fusion company called TAE Technologies, which it expects to close later this year. This is a peculiar merger, as it is a deep technology start-up that generates close to zero revenue and is working on a technology that has never been solved before.

Second, the company is trying to sell investment firms the Truth+ API for upwards of $100,000 a month, which would give immediate access to President Trump's posts on the platform. The service is already being scrutinized closely by the media and courts, as it appears to be a way to sell potentially market-moving information before the wider public sees it.

Image source: Getty Images.

Should you buy the dip? The stock still has a market cap of $2.3 billion and barely any business model today. It has cash and cryptocurrencies on the balance sheet, but the net book value is still around half of where the shares trade today.

Add it up, and investors would be smart to avoid buying the dip on Trump Media & Technology stock today.

Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Phillip Juhan, Chief Financial Officer of Trump Media & Technology Group Corp. (DJT +0.36%), reported the disposition of 18,817 shares on August 13, 2026 per the SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$157,000Shares sold (directly held)18,817Post-transaction shares (directly held)581,749Post-transaction value~$4.8 millionInsider ownership0.21%Transaction value based on SEC Form 4 weighted average sale price ($8.33); post-transaction value based on August 13, 2026 market close ($8.30).

Key questionsWas this a discretionary market sale by the CFO?
No, the transaction was an automated sell-to-cover event to satisfy tax obligations, which does not reflect the insider's discretionary outlook on the company's valuation or future performance.What is the nature of the insider's remaining equity exposure?
Phillip Juhan continues to hold 581,749 shares directly, and the CFO also holds derivative securities in the form of restricted stock units that remain subject to future vesting schedules.How has the equity performed relative to this liquidity event?
As of the August 13, 2026 transaction date, the shares have declined 54% over the preceding 12 months.What was the execution context for this trade?
The 18,817 shares were disposed of in multiple transactions at prices ranging from $8.16 to $8.49, resulting in the reported weighted average price of $8.33 per share.Company OverviewMetricValueShare Price (as of market close 2026-08-12)$8.27Market Capitalization$2.3 billionRevenue (TTM)$4.5 millionNet Income (TTM)-$1.3 billionCompany SnapshotTrump Media & Technology Group operates Truth Social, a social networking platform that generates revenue through digital advertising and user engagement services within the United States market.The company's business model centers on building and monetizing a proprietary social media platform designed to serve users seeking an alternative to mainstream social networks.The platform targets a defined demographic of users in the United States seeking social networking services aligned with specific ideological preferences.Trump Media & Technology Group Corp., founded in 2021 and headquartered in Sarasota, Florida, operates Truth Social as its primary digital asset. With a market cap of $2.3 billion and minimal revenue generation of $4.5 million over the trailing 12 months, the company remains in an early-stage development phase with substantial operating losses.

The organization is focused on scaling its social networking platform to establish competitive positioning within the crowded social media landscape as it prepares for a merger with TAE Technologies.

What this transaction means for investorsThe August 13 sale of Trump Media stock by CFO Phillip Juhan occurred a few days after the company terminated its previously announced proposed business combination with Crypto.com. Instead, Trump Media’s foray into cryptocurrency will be put aside in favor of a planned merger with TAE Technologies, a privately-held fusion energy enterprise. The deal is expected to close in the fourth quarter.

However, Juhan’s disposition is an unrelated event, as it was a non-discretionary transaction executed to fulfill tax withholding obligations associated with the vesting of restricted stock units (RSUs). The CFO maintained a sizable 581,749 directly-held shares post-disposal, including unvested RSUs, ensuring continued alignment with shareholder interests.

Trump Media posted Q2 sales of $1.7 million, up from $883,300 in the prior year. Even so, the company’s net loss ballooned to $238.1 million from 2025’s loss of $20 million as the value of its cryptocurrency declined.

Trump Media’s efforts to grow its business have met with setbacks, such as the termination of the partnership with Crypto.com. Its path forward to long-term prosperity now seems entirely dependent on its merger with TAE Technologies.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Item 1 of 2 U.S. President Donald Trump shows a printout of his Truth Social post as he delivers remarks to reporters in the Oval Office at the White House in Washington, D.C., U.S., June 4, 2026. REUTERS/Jonathan Ernst/File Photo

[1/2]U.S. President Donald Trump shows a printout of his Truth Social post as he delivers remarks to reporters in the Oval Office at the White House in Washington, D.C., U.S., June 4, 2026.... Purchase Licensing Rights, opens new tab Read more

SummaryCompaniesComplaint seeks to bar exclusive Trump announcements on paid feedTruth API charges up to $100,000 monthly for early access to 10 accountsTrump's posts can move marketsWhite House not available for commentNEW YORK, Aug 12 (Reuters) - Donald Trump was ​sued on Wednesday by two media entities seeking to shut down a new service that sells ‌paid access to the U.S. president's posts, including some that can move markets, on his Truth Social platform.

The complaint filed in Manhattan federal court by the Intercept and the Freedom of the Press Foundation challenges Truth API, a feed offered by Trump Media & Technology Group (DJT.O), opens new tab that ​charges up to $100,000 a month for early access to 10 high-profile Truth Social accounts, including Trump's own.

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Truth ​API launched on August 1, four days after Democratic Senators Elizabeth Warren of Massachusetts and ⁠Adam Schiff of California called on the U.S. Securities and Exchange Commission to investigate whether it undermined the integrity of ​financial markets while enriching Wall Street, wealthy insiders and Trump.

The White House did not immediately respond to a request ​for comment. Other White House officials are also defendants but Trump Media is not.

Trump has long used Truth Social to disclose news, such as on tariffs and Middle East conflicts, that can move prices of stocks, oil and other markets.

Wednesday's lawsuit seeks to block the ​White House from posting official government announcements exclusively on Truth Social while the paid feed exists.

PLAINTIFFS CALL SERVICE 'PROFOUNDLY CORRUPT'In ​the complaint, the plaintiffs called the Truth API service "profoundly corrupt" because the president stands to gain financially when subscribers sign up.

They ‌also said ⁠the service violated the U.S. Constitution's First Amendment because everyone deserved equal access to Trump's announcements, and there was no legitimate government interest in selling Trump's posts to private subscribers and letting him profit.

According to the complaint, many of Trump's 9,000 to 11,000 Truth Social posts and reposts during his second White House term were never followed by official ​White House statements.

A Trump Media ​spokesperson said "countless" platforms and ⁠news outlets, including many offering subscription feeds, already disseminate information from Trump, a Republican.

"Now, left-wing activists are trying to wrongfully weaponize the courts to censor him" and harm shareholders, ​the spokesperson said.

On an earnings call on Monday, Trump Media interim Chief Executive Kevin ​McGurn said Truth ⁠API enabled subscribers to get news "fractionally faster" than others.

TRUMP IS LARGEST SHAREHOLDERThe president is Trump Media's largest shareholder, with a 41.3% stake worth approximately $950 million through his Donald J. Trump Revocable Trust, Reuters data show.

His oldest son Donald Trump Jr. is ⁠a ​Trump Media director and oversees the trust.

Other accounts offered through Truth API ​include those of Vice President JD Vance, Health and Human Services Secretary Robert F. Kennedy Jr., FBI Director Kash Patel and the White House ​itself, the complaint said.

The SEC's three current commissioners are Republican.

Reporting by Jonathan Stempel in New York; Editing by Sonali Paul

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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President Donald Trump was sued on Wednesday by a media outlet and a non-profit group seeking to block a controversial new service that sells advance notifications of his posts on Truth Social.

The lawsuit, filed in U.S. District Court in Manhattan, notes that Trump's posts on his own social media site often move financial markets with announcements about government policy, military actions and other decisions.

"President Donald Trump is charging $100,000 per month for advance access to his official government announcements on Truth Social, the social media platform he owns," the civil suit says.

"This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it," the suit says. "There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information."

The suit was filed by The Intercept Media, a news organization, and by the Freedom of the Press Association, a non-profit group.

The complaint alleges that the new service, known as Truth API, violates the First and Fifth Amendments of the U.S. Constitution by giving subscribers preferential access to Trump's public announcements for "unreasonable sums."

Truth Social's parent company, Trump Media, announced in July that it would offer subscribers who paid up to $100,000 each month early access to "market-moving" posts from Trump and other people who use the platform. Trump is the largest shareholder in Trump Media through the Donald J. Trump Revocable Trust.

Currently, the suit says, Truth API provides subscribers faster access to posts for the 10 most popular accounts on Truth Social. After Trump, those accounts include the White House itself, Vice President JD Vance, FBI Director Kash Patel, White House Press Secretary Karoline Leavitt, Transportation Secretary Sean Duffy, and Health and Human Services Secretary Robert Kennedy.

"This scheme is profoundly corrupt," the suit says. "The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company.

The suit says that since resuming office in January 2025, Trump has published between 9,000 and 11,000 posts on Truth Social.

"Often his posts have no immediate corresponding announcement from the White House," the suit says. "In other words, President Trump's posts are the only way to get official government news."

CNBC has requested comment from the White House on the lawsuit.

During a quarterly earnings conference call on Monday, Trump Media CEO Kevin McGurn said Truth API "provides machine-readable feeds of publicly available Truth posts from the platform's top accounts in milliseconds."

"Our customers will get published and publicly available posts fractionally faster," McGurn said.

McGurn also said during that call that Trump Media to date had signed more than 10 customer agreements for Truth API, "generally in the range of $60,000-$100,000 a month."

McGurn said that the company was in active discussions with hyperscalers and some large news organizations and developers of large language models about the service.

"Looking ahead, we expect the next phase of the API to include broader third-party distribution, for example, news feeds, financial data terminals, and specialty publications, which we believe will bring more visibility to this business over time," he said.

In addition to Trump, the suit names as defendants the president's executive assistant, Natalie Harp and White House Deputy Chief of Staff Dan Scavino, who are each known to post to Truth Social on behalf of the president; the Executive Office of the President; and the White House Office.

— CNBC's Megan Cassella contributed to this report.

Trump Media & Technology Group Corp. reported Q2 sales of $1.67M, up 89% y/y, but remains unprofitable with ballooning losses and minimal operational improvement. I maintain a Strong Sell rating on DJT, citing persistent cash burn, unsustainable business model, and repeated pivots with no viable path to profitability. Despite $215M in cash and a long runway, DJT's core operations are stagnant, and reliance on capital markets is unsustainable without dramatic improvement.

Losses at the company behind Donald Trump's social media platform - Truth Social, have ballooned, new figures reveal.

The $238m (£176.3m) net loss recorded by Trump Media and Technology Group in the quarter ending 30 June is more than ten times that of a year earlier.

During the same period last year, the net loss was around $20m (£14.8m).The figures also show the company made a net loss of $644m for the first six months of 2026.

Money blog: Workers' pension choice could be disaster for retirement

Trump Media has reported losses every quarter since it became a public company more than two years ago.

The latest financial performance was attributed to the decline in value of crypto and other digital assets.

The company said it also faced $25.6m (£19m) of legal expenses, mostly related to legacy litigation.

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What is Trump Media and Technology Group?

As well as owning Truth Social, the company also has interests in online betting, finance and nuclear energy but aims to refocus on social media.

Even with this refocus, a merger with nuclear fusion company TAE Technologies is intended to go ahead.

Plans to create a subscription service, whereby service users pay to get instant, high-speed access to posts on Truth Social ahead of others have also been developed.

From 4 August: Art of the Deal or Insider Trading? Trump takes Truth Social to Wall Street

The product, called Truth API, is designed for the likes of Wall Street traders to get access to posts ahead of others. Financial makets have previously moved following some of President Trump's own Truth Social posts.

It has signed up its first 10 customers, the company said in the results announcement.

A bright spot

While losses mounted for Trump Media, the company's revenue stream grew.

It posted $1.7m (£1.25m) in revenue for the period, up 89% from the $900,000 generated a year prior.

Trump Media stock NASDAQ:DJT dropped 8.03% to $9.39 on Monday before slipping slightly further after hours, as investors confronted another quarter of heavy losses and little revenue.

The Truth Social owner reported a $238.1 million second-quarter net loss, compared with about $20 million a year earlier, while revenue rose 89% to $1.7 million.

Much of the loss came from unrealised declines in Bitcoin, BTC-related securities and Cronos, but operating losses still widened to $164 million from $44 million.

With DJT valued at roughly $2.6 billion, attention is shifting to whether its newest businesses can produce meaningful revenue.

Crypto volatility made the quarter look ugly, but Trump Media’s valuation remains the bigger issue.

The company is pulling back from diversification efforts and redirecting resources towards projects management believes can improve its economics.

Earlier moves into financial products, prediction markets and crypto have yet to transform a revenue base that remains tiny relative to its market value.

Marty Popoff, a former capital-markets professional writing for Seeking Alpha, argued in July that Trump Media’s book value, cash flow and growth prospects did not support its market capitalisation.

That disconnect has become harder to ignore as the stock continues losing ground.

Crypto explains much of the net loss, but it does not answer how Trump Media grows into its valuation.

Trump Media’s most intriguing response is Truth API, which sells rapid access to posts from leading Truth Social accounts, including President Donald Trump.

Chief executive Kevin McGurn said customers are paying $60,000 to $100,000 a month and that 10 have signed up, mostly high-frequency trading firms.

At current pricing, those clients could generate roughly $7 million to $12 million annually if subscriptions persist, several times Trump Media’s 2025 revenue.

The appeal is speed. Trump frequently posts policy announcements capable of moving stocks, currencies, commodities and bonds.

Matt Tuttle, CEO of Tuttle Capital Management, told Investopedia the concept recalled “the old days when you set up shop as close to an exchange as you could to be a millisecond ahead.”

Trump Media also sees potential customers among news organisations, data companies and developers of large language models.

The larger transformation could come from Trump Media’s proposed all-stock merger with TAE Technologies, valued at more than $6 billion when announced.

The companies expect shareholders from each side to own roughly half of the combined business.

McGurn said Monday that Trump Media hopes to close the transaction by year-end and described fusion as its most important long-term value driver.

That would alter DJT, as investors would increasingly own exposure to experimental fusion-energy technology rather than primarily a social-media platform.

There is also a nearer-term balance-sheet test. Trump Media has about $1 billion of convertible notes due in 2028, but holders can demand repayment in November.

The company ended June with more than $400 million of cash and short-term investments plus about $1.2 billion of Bitcoin and BTC-related assets.

Tyler Richey, co-editor of the Sevens Report, told Business Insider in May that Truth Social had been “a bit of a swing and a miss” as a social-media company.

The company reported a loss of $238.1 million for the second quarter, compared with a loss of $20 million in the same quarter a year earlier.

ToplineTrump Media’s stock fell more than 8% on Monday shortly before the company reported its second quarter earnings, which revealed its latest net loss for the year.

Trump Media fell 8% on Monday.

Photo by Jim WATSON / AFP via Getty Images

Key FactsTrump Media closed down 8% at $9.39, erasing two weeks worth of gains made by the company’s stock.

Shares slid down a fraction of a percent in after-hours trading, as Trump Media reported a $238.1 million net loss for its latest quarter and $1.7 million in sales.

The company attributed $190.4 million worth of the losses to unrealized losses on digital assets and equity securities.

Trump Media reported $2 billion in total assets, nearly all of which was made up of cash, investments, equity securities and digital assets.

Trump Media holds hundreds of millions of dollars worth of bitcoin and cronos cryptocurrency, with the company recording $218 million in unrealized bitcoin losses and $27.4 million in unrealized cronos losses as both assets have fallen consistently since the start of the year.

Trump Media shares are still well above their low for 2026, which was reached in July when the stock fell to about $7 per share.

The company did not introduce any new revenue drivers during its second quarter, meaning it will continue relying on limited advertising revenue.

Forbes ValuationWe estimate President Donald Trump’s net worth at $6.4 billion, falling nearly $100 million Monday. Trump’s stake in the company is worth about $1 billion.

What To Watch ForTrump Media launched Truth API on Aug. 1, meaning the company’s next earnings report may reveal how well the service bolsters its limited revenue streams. The service provides early access to posts from high-ranking Truth Social accounts, including Trump’s, for a reported cost of as much as $100,000 a month.

Key BackgroundTrump Media shares have fallen 30% since the start of the year and roughly 80% since the company went public in early 2024, debuting at $70.90 per share on the Nasdaq. The company lost $712 million in 2025, more than half of which was due to unrealized losses and digital asset investments. Advertising raked in $3.7 million that same year for Trump Media, which is the parent company of Truth Social. The alternative social media platform championed by the president has faced a 36% decline in monthly visitors from a year ago, The New York Times reported, citing analytics firm SimilarWeb. Truth Social averaged 28 million monthly visits in the first seven months of 2025, the Times added.

Further ReadingTrump’s Truth Social Won’t Be Its Own Company Anymore, Parent Firm Says (Forbes)

Trump Media’s Nearly 50% Rally Adds $600 Million To President’s Net Worth (Forbes)

Early customers to the product are primarily high-frequency trading firms.

Trump Media & Technology Group (DJT -8.03%) stock was down 9.4% as of 3:20 p.m. ET Monday, while the S&P 500 was mostly flat and the Nasdaq Composite slipped 0.3%.

Shares of the Truth Social operator are sliding after the company decided to unwind most of its partnership with the crypto exchange Crypto.com.

Today's Change

(

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-0.82

Current Price

$

9.39

Why Trump Media walked away from its Crypto.com deal On Aug. 7, Trump Media, Crypto.com, and Yorkville Acquisition Corp. -- a special purpose acquisition company (SPAC), meaning a sort of shell company that takes a private business public by merging with it -- all agreed to cancel a plan to create a publicly traded digital-asset treasury company (DAT) that would have bought and held Cronos (CRO -1.22%), Crypto.com's native token.

Cronos traded near $0.20 when the deal was announced last August and now sits around just $0.047. The math behind the DAT no longer made sense, and the deal was killed.

What this means for investors going forward Trump Media, however, still owns the CRO it bought in anticipation of the deal as well as other crypto assets like Bitcoin. The company has been forced to take major paper losses as the value of its digital assets plummeted.

Image source: Getty Images.

After its ill-fated foray into crypto, Trump Media now says once again that Truth Social revenue is its primary focus, as well as closing a proposed merger with a nuclear fusion technology company.

This is not a stock that I would own. Over the last twelve months, it has lost more than $530 million and brought in just $3.7 million in revenues. Despite these numbers, the company's market cap is over $2.8 billion.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

ToplineTrump Media’s stock fell more than 8% on Monday shortly before the company reported its second quarter earnings, which may not show many significant changes to its limited advertising revenue stream.

Trump Media fell 8% on Monday.

Photo by Jim WATSON / AFP via Getty Images

Key FactsTrump Media closed down 8% at $9.39, erasing two weeks worth of gains made by the company’s stock.

The stock’s performance is largely detached from business fundamentals, though it is possible there is investor anxiety ahead of the company’s second quarter earnings.

Trump Media shares are still well above their low for 2026, which was reached in July when the stock fell to about $7 per share.

The company did not introduce any new revenue drivers during its second quarter, meaning it will continue relying on advertising revenue—which has been underwhelming in previous quarters.

Forbes ValuationWe estimate President Donald Trump’s net worth at $6.4 billion, falling nearly $100 million Monday. Trump’s stake in the company is worth about $1 billion.

What To Watch ForTrump Media launched Truth API on Aug. 1, meaning the company’s next earnings report may reveal how well the service bolsters its limited revenue streams. The service provides early access to posts from high-ranking Truth Social accounts, including Trump’s, for a reported cost of as much as $100,000 a month.

Key BackgroundTrump Media shares have fallen 30% since the start of the year and roughly 80% since the company went public in early 2024, debuting at $70.90 per share on the Nasdaq. The company lost $712 million in 2025, more than half of which was due to unrealized losses and digital asset investments. Advertising raked in $3.7 million that same year for Trump Media, which is the parent company of Truth Social. The alternative social media platform championed by the president has faced a 36% decline in monthly visitors from a year ago, The New York Times reported, citing analytics firm SimilarWeb. Truth Social averaged 28 million monthly visits in the first seven months of 2025, the Times added.

Further ReadingTrump’s Truth Social Won’t Be Its Own Company Anymore, Parent Firm Says (Forbes)

Trump Media’s Nearly 50% Rally Adds $600 Million To President’s Net Worth (Forbes)

Agreement strengthens TAE's path to commercial power with prospective helium-3 fuel supply option

, /PRNewswire/ -- TAE Technologies, a leading fusion energy company, today announced the signing of an agreement with Black Moon Energy Corporation (BMEC) to support the future commercialization of fusion power through a prospective helium-3 (He-3) fuel supply option and commercial development collaboration. Under the terms of the agreement, BMEC would supply helium-3 fuel to TAE.

Norm, TAE Technologies' current-generation fusion machine, represents another step in our progress towards our first commercial-scale fusion power plant. "This agreement can facilitate our path to power by providing an alternative fuel supply option," said TAE CEO Michl Binderbauer. "TAE has a high degree of flexibility to select from the most cost-competitive fuel cycle, whereas many other fusion machines are able to operate only on the deuterium-tritium cycle; this provides TAE's technology with future flexibility, depending on how fuel markets change over the long-run."

"Developing a future supply chain for fusion fuels is a critical component of bringing fusion power to market," said David Warden, CEO, Black Moon Energy Corporation. "By working with TAE, we are helping establish the commercial framework needed to support next-generation energy systems."

After nearly three decades of research and development and the successful construction of five fusion machines, TAE is preparing to construct its first fusion power plant, Da Vinci, expected to generate 50 MWe of electricity and serve as the foundation for future commercial-scale fusion facilities. A location for the Da Vinci facility is expected to be sited later this year. TAE expects its first fusion power plant to begin operations in 2031, with future facilities designed to scale to 350–500 MWe.

About TAE Technologies
TAE Technologies is a leading fusion energy company developing the cleanest and most economically viable path to commercial fusion power. For nearly three decades, TAE has advanced a proprietary field-reversed configuration (FRC) approach designed to safely produce abundant, carbon-free energy. The company's sixth-generation fusion machine, Norm, supports the development of Da Vinci, TAE's first commercial fusion power plant. TAE's fusion technology advances expect to yield near-term commercial potential through TAE Power Solutions and TAE Life Sciences.

TAE continues to advance its previously announced business combination with Trump Media & Technology Group Corp. (Nasdaq: DJT), with plans to file a Form S-4 with the U.S. Securities and Exchange Commission and anticipates closing before the end of 2026, subject to regulatory approvals and customary closing conditions.

Learn more at www.tae.com.

About Black Moon Energy Corporation
Black Moon Energy Corporation is a privately funded natural-resource and lunar-development company with deep experience in energy and aerospace. BMEC's vision is to pioneer Helium-3-fueled fusion to satisfy energy demand, raise the global standard of living and address climate-driven energy concerns, as well as supply the growing demand for Helium-3 in enabling quantum computing, security protocols and medical diagnostics. The company plans to execute one robotic lunar delineation mission within five years to collect data, perform experiments, and de-risk a commercial-scale Helium-3 production operation for long-term reliable supply.

Learn more at www.blackmoon.energy

For assets, please visit our press kit.

Follow TAE on: Facebook | Twitter | LinkedIn | Instagram

For more information, visit www.blackmoon.energy, or follow BMEC on LinkedIn at linkedin.com/company/blackmoonenergy.

Important Information About the TMTG Merger and Where to Find It
In connection with the TAE's pending merger (the "TMTG Merger") with Trump Media & Technology Group Corp. ("TMTG"), TMTG intends to file with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 to register the common stock of TMTG ("TMTG Shares") to be issued in connection with the TMTG Merger. The registration statement will include a document that serves as a proxy statement and prospectus of TMTG and consent solicitation statement of TAE (the "proxy statement/prospectus and consent solicitation statement"), and TMTG will file other documents regarding the TMTG Merger with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus and consent solicitation statement, or any other document that TMTG may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND CONSENT SOLICITATION STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG AND TAE, THE TMTG MERGER, THE RISKS RELATED THERETO, AND RELATED MATTERS.

After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of TMTG (the "TMTG Shareholders") and a prospectus and consent solicitation statement will be sent to the stockholders of TAE. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus and consent solicitation statement, as each may be amended or supplemented from time to time, and other relevant documents filed by TMTG with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by TMTG, including the proxy statement/prospectus and consent solicitation statement (when available), will be available free of charge from TMTG's website at tmtgcorp.com under the "Investors" tab.

Participants in the Solicitation
TMTG and certain of its directors and executive officers, and TAE and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the TMTG Shareholders with respect to the TMTG Merger under the rules of the SEC. Information regarding the names, affiliations and interests of certain of TMTG's directors and executive officers in the solicitation may be found by reading TMTG's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, TMTG's subsequent Amendment No. 1 on Form 10-K/A to TMTG's Annual Report on Form 10-K, filed with the SEC on April 30, 2026, TMTG's subsequent Quarterly Report on Form 10-Q filed with the SEC on May 8, 2026, TMTG's definitive proxy statement for the 2026 annual meeting of shareholders when it becomes available, and the proxy statement/prospectus and consent solicitation statement and other relevant materials filed with the SEC in connection with the TMTG Merger when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the TMTG Shareholders in connection with the TMTG Merger, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and consent solicitation statement and other relevant materials when filed with the SEC.

Cautionary Statement About Forward-Looking Statements
This communication contains forward-looking statements. All statements, other than statements of present or historical fact included in this communication, regarding the TMTG Merger, TMTG's ability to consummate the TMTG Merger, the benefits of the TMTG Merger and the combined company's future financial performance, as well as the combined Company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "should," "will" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding TMTG's and TAE's expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the expected performance of TAE's technology, the anticipated site selection criteria; development and construction timelines; plans for deployment of capital and the uses thereof; governance of the combined company; cost competitiveness of fusion-generated electricity; timing of commercialization of TAE's fusion technology; plans for research and development programs; and future demand for power. These forward-looking statements are based largely on TMTG's and TAE's current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause TMTG's or TAE's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to TMTG's or TAE's ability to demonstrate and execute on commercial viability of its technology; legal proceedings; ability to obtain financing on acceptable terms or at all; changes in digital asset valuations; disruption to TMTG's or TAE's operations; TMTG's or TAE's ability to develop and maintain key strategic relationships; competition in TMTG's or TAE's industry; ability to access required materials at acceptable costs; delays in the development and manufacturing of fusion power plants and related technology; ability to manage growth effectively; possibility of incurring losses in the future and not being able to achieve or maintain profitability; potential generation capacities of specific reactor designs; regulatory outlook; future market conditions; success of strategic partnerships; developments in the capital and credit markets; future financial, operational and cost performance; revenue generation; demand for nuclear energy; economic outlook and public perception of the nuclear energy industry; changes in laws or regulations; ability to obtain required regulatory approvals on a timely basis or at all; ability to protect intellectual property; adverse economic or competitive conditions; and other risks and uncertainties. In addition, TMTG and TAE caution you that the forward-looking statements contained in this communication are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay site selection or the TMTG Merger or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TMTG or TAE with respect to site selection or the TMTG Merger; (iii) the inability to complete the TMTG Merger due to the failure to obtain approval of the shareholders of TMTG or TAE, or other conditions to closing in the merger agreement; (iv) the risk that the TMTG Merger disrupts TMTG's or TAE's current plans and operations as a result of the announcement of the TMTG Merger; (v) TMTG's and TAE's ability to realize the anticipated benefits of the TMTG Merger, which may be affected by, among other things, competition and the ability of TMTG and TAE to grow and manage growth profitably following the TMTG Merger; and (vi) costs related to the TMTG Merger, site selection or construction. The forward-looking statements in this press release are based upon information available to TMTG and TAE as of the date of this press release and, while TMTG and TAE believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, TMTG and TAE do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in TMTG's periodic filings with the SEC, including TMTG's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, TMTG's subsequent Amendment No. 1 on Form 10-K/A to TMTG's Annual Report on Form 10-K, filed with the SEC on April 30, 2026, TMTG's Quarterly Report on Form 10-Q filed with the SEC on May 8, 2026, TMTG's subsequent Quarterly Reports on Form 10-Q and in the Form S-4, when filed. TMTG's SEC filings are available publicly on the SEC's website at www.sec.gov.

No Offer or Solicitation
This communication is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

SOURCE TAE Technologies, Inc.

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For up to $100,000 a month, a hedge fund can buy a licensed, low-latency pipe into Donald Trump’s Truth Social account, sold by Trump Media & Technology Group (NASDAQ:DJT), where Trump is the largest shareholder through a trust controlled by his son, Donald Trump Jr.. The product “Truth API,” was first reported by Bloomberg on July 17 and the paid tier went live for subscribers around August 1, 2026. Buyers get the president’s market-moving posts milliseconds before the public feed. The seller controls the poster.

Interim CEO Kevin McGurn described the offering as “a direct, licensed, real-time feed of the platform’s most market-moving Truths,” pitched as “to monetize proprietary assets through a high-margin, recurring revenue stream.” TMTG says customers have already begun signing up, though it will not name them.

Why Milliseconds Are Worth Six Figures The precedent is fresh. In April 2025, Trump’s “GREAT TIME TO BUY” Truth Social post landed hours before he announced a 90-day tariff pause, sending equity indexes sharply higher. His posts on the U.S.-Iran war have swung oil prices in both directions. For a high-frequency desk running Treasury futures, index derivatives, and currency pairs, milliseconds of lead time on a tariff, sanctions, or personnel post is a durable edge, one that used to leak through screenshots and Bloomberg terminals and now has a price sheet.

DJT’s valuation runs far ahead of operations. Trailing revenue is $3.73 million, market cap sits near $2.73 billion, and EBITDA is negative $416.3 million. The stock closed at $9.86 on July 31, down 43.95% over the past year but up 22.94% in July alone as the API news landed. Truth API is being sold as the monetization plan.

Public Silence, Private Alarm One Wall Street executive told NPR anonymously that “It’s insane. I can say for myself and 200 of my friends in finance, we’re not getting anywhere near this. In another administration, this would be considered criminal.” NPR contacted 12 other major brokers, hedge fund managers, and investors; none would speak on the record, citing fear of administration retaliation. That silence is itself the story.

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The Legal Question Is Insider Trading, Not Emoluments Boston College professor and former senior SEC official Renée Jones told NPR the offering appears to run afoul of insider trading rules under 17 CFR 240.10b5-2, which bars misuse of nonpublic information obtained through a duty of trust or confidence, and the 2012 STOCK Act, which prohibits the president and federal officials from trading on privileged information. She flagged the likely defense: because the arrangement was announced publicly, TMTG’s lawyers can argue it lacks the deceit at the core of securities fraud. TMTG spokeswoman Shannon Devine put it more bluntly: “Truth API offers customers the fastest way to ingest publicly available Truth Social data. Critics must have invented a new theory of ‘insider trading’ based on publicly available information.”

Senators Elizabeth Warren and Adam Schiff wrote SEC Chair Paul Atkins in late July, calling the setup “an outrageous abuse of the President’s office for his personal benefit”, and requesting a formal legal analysis. Mark Warner wrote six major financial trade groups urging members not to subscribe, calling it “a clear and unacceptable pathway for corruption.” Chuck Schumer called it an “earth-shattering scandal” and “the definition of insider trading.”

What to Watch The signal in the next two quarters is whether Truth API subscription revenue shows up in TMTG’s filings, and whether the SEC responds to the Warren-Schiff letter with anything beyond its standard declined to comment. Truth API takes an informational edge that already existed around presidential posts and puts a $100,000 price tag on it. That is a bad development for retail investors, who now sit on the wrong side of a formalized, licensed latency gap.

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Contact [email protected] for any questions or corrections.

Trump Media and Technology Group's new paid data service launched on Aug. 1, providing faster access to Truth Social posts from President Donald Trump and other top accounts on the platform.

"Truth API," the new application programming interface, is designed to give firms "a direct, licensed, real-time feed of the platform's most market-moving Truths," interim CEO Kevin McGurn said in a release announcing the launch.

While not explicitly naming Trump, the president's @realDonaldTrump account is the largest on Truth Social by far, often posting his most consequential policy decisions there first, including updates on the war with Iran.

As of Saturday, the account has 13 million followers.

Trump's family is also the largest shareholder in Trump Media, the public company that operates Truth Social. 

The launch comes after Democratic Sens. Adam Schiff of California and Elizabeth Warren of Massachusetts took aim at the new service, urging the Securities and Exchange Commission on Wednesday to investigate whether the company is violating the law.

"This appears to be an outrageous abuse of the President's office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders," they wrote in a letter to SEC chair Paul Atkins dated Tuesday.

The SEC declined to comment on the letter to CNBC.

"Markets already move on Truth Social posts," Truth Media's McGurn wrote at the time of the announcement. "Truth API delivers a direct, licensed, real-time feed of the platform's most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream."

ToplineTrump Media & Technology Group shares jumped over 5% on Thursday, continuing a weekslong rally from an all-time low the company reached in June.

Trump Media closed up over 5% on Thursday.

Photo by Scott Olson/Getty Images

Key FactsShares of President Donald Trump’s company, which owns social platform Truth Social, were up 5.5% to $10.39 shortly before market close.

The boost is part of a roughly 48% rally the stock has made since recording an all-time low in June, when shares briefly fell below $7.

The rally comes on the heels of the announcement of Truth API, a real-time data feed providing posts from high-ranking Truth Social accounts to financial and trading firms.

The service, which would offer early access to Trump’s posts, is reportedly being floated at a price as high as $100,000 a month.

Trump’s posts often move markets, particularly as he turns to social media to break news about the Iran war and tariffs.

Trump Media has largely relied on advertising revenue to bring in money, though Truth API could bolster the company’s highly limited revenue streams depending on how successful it is.

WHAT TO WATCH FORTruth API launches on Aug. 1.

Forbes ValuationWe estimate Trump’s net worth at $6.5 billion. That marks a $600 million increase from when Trump Media recorded its all-time low price last month.

Big Number21.9%. That is how much Trump Media shares have fallen since the start of the year, when the stock traded around $13.77.

Key BackgroundTrump Media debuted on the Nasdaq at $70.90 per share in 2024, as hype around the president’s company amid an election cycle created a volatile stock. Trump Media lost $712 million in the full year 2025, with unrealized losses and digital asset investments taking some $368 million out of the company’s pocket. Advertising sales generated just $3.7 million in annual revenue for the company last year.

Further ReadingTrump Media Stock Hits All-Time Low—Down Almost 50% In 2026 (Forbes)

Posted by Defense World Staff on Jul 30th, 2026

Anson Funds Management LP bought a new position in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT – Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 710,986 shares of the company’s stock, valued at approximately $6,598,000. Anson Funds Management LP owned approximately 0.26% of Trump Media & Technology Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DJT. Motiv8 Investments LLC bought a new stake in shares of Trump Media & Technology Group during the fourth quarter worth $30,000. International Assets Investment Management LLC acquired a new position in Trump Media & Technology Group during the 4th quarter valued at about $40,000. Daiwa Securities Group Inc. lifted its position in Trump Media & Technology Group by 68.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,012 shares of the company’s stock valued at $54,000 after purchasing an additional 1,223 shares during the period. Larson Financial Group LLC boosted its stake in shares of Trump Media & Technology Group by 70.7% in the 4th quarter. Larson Financial Group LLC now owns 3,104 shares of the company’s stock valued at $41,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Trump Media & Technology Group by 40.7% in the 2nd quarter. Rakuten Securities Inc. now owns 3,466 shares of the company’s stock valued at $63,000 after purchasing an additional 1,002 shares during the last quarter. 4.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trump Media & Technology Group in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Trump Media & Technology Group currently has an average rating of “Sell”.

View Our Latest Analysis on Trump Media & Technology Group

Trump Media & Technology Group Stock Performance Shares of NASDAQ:DJT opened at $9.85 on Thursday. Trump Media & Technology Group Corp. has a 52 week low of $6.96 and a 52 week high of $18.97. The company has a market capitalization of $2.73 billion, a PE ratio of -2.39 and a beta of 4.10. The company has a 50 day moving average price of $8.55 and a two-hundred day moving average price of $9.84.

Trump Media & Technology Group (NASDAQ:DJT – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.47) earnings per share for the quarter. Trump Media & Technology Group had a negative net margin of 29,103.62% and a negative return on equity of 51.57%. The business had revenue of $0.87 million for the quarter. The company’s revenue was up 6.09% on a year-over-year basis.

About Trump Media & Technology Group (Free Report)

Trump Media & Technology Group (NASDAQ: DJT) is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.

Founded in October 2021 by former President Donald J.

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Item 1 of 2 Workers straighten the Truth Social booth at the Great American State Fair celebrating the 250th anniversary of U.S. independence in Washington, D.C., U.S., July 2, 2026. REUTERS/Jonathan Ernst/File Photo

[1/2]Workers straighten the Truth Social booth at the Great American State Fair celebrating the 250th anniversary of U.S. independence in Washington, D.C., U.S., July 2, 2026. REUTERS/Jonathan... Purchase Licensing Rights, opens new tab Read more

SummaryCompaniesSenators Warren and Schiff press regulator to probe whether TMTG plan breaks US lawsTMTG has discussed charging as much as $100,000 for faster access to Trump postsSenators say plan could harm retail investors, undermine market integrityNEW YORK, July 29 (Reuters) - Democratic senators Elizabeth Warren and Adam ‌Schiff have asked the U.S. securities regulator to probe whether Truth Social parent Trump Media's (DJT.O), opens new tab plan to sell early access to President Donald Trump's social media posts breaks the law, according to a letter reviewed by Reuters.

Trump Media, or TMTG, unveiled a paid, licensed data feed this month that will give trading ​firms "the fastest" access to posts from the 10 most influential Truth Social accounts, including Trump's. The letter, sent on Tuesday, ramps ​up pressure on the product, as well as any Wall Street firms that may have bought ⁠the feed, potentially increasing what some industry sources said they believed to be legal, political and regulatory risks.

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"This appears to ​be an outrageous abuse of the President's office for his personal benefit that undermines everyday investors and the integrity of our ​markets, while enriching Wall Street and other wealthy insiders," Warren and Schiff said in the July 28 letter to Securities and Exchange Commission Chairman Paul Atkins.

A spokesperson for the SEC and Atkins, a free-market Republican appointed to the role by Trump who has generally taken a softer stance ​on enforcement, confirmed receiving the letter but declined to comment further.

The White House referred requests for comment to TMTG, which did ​not respond immediately.

EARLY DATA ACCESS, FOR A PRICETrump Media has discussed charging as much as $100,000 a month for the Truth API product, Reuters and ‌other media ⁠outlets have reported. Trump's social media posts have in the past moved markets, and the profits of many top trading firms, hedge funds and financial services firms depend heavily on the speed at which they can trade off such news.

Trump, who owns about 41% of Trump Media through a trust his children oversee, stands to profit from the paid access model. The company ​said it has already signed up ​customers ahead of the August ⁠1 launch, but did not identify them.

Truth API is the latest example of the president mixing his personal business with presidential affairs, raising ethical issues, Warren and Schiff said. Trump reported ​last month, for example, that he received more than $1.4 billion last year from his family’s ​crypto projects.

While tech ⁠platforms are generally allowed to offer clients early data access, even if it disadvantages some market participants, according to lawyers, some ethics experts have said the Truth API product is different because Trump's posts are government information and he has an obligation to disseminate ⁠it publicly.

Warren ​and Schiff also noted Trump has in the past used Truth Social to ​endorse specific stocks including Citigroup (C.N), opens new tab, Intel (INTC.O), opens new tab and Palantir (PLTR.O), opens new tab, which they said raises the risk of insider trading and of undermining investor confidence that the market is ​operating on a level playing field.

Reporting by Chris Prentice in New York; Editing by Michelle Price, Matthew Lewis and Deepa Babington

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Chris Prentice is on assignment with the U.S. Healthcare and Pharma team. She has also reported on financial crime, commodities markets and trade policy. Her work, solo and in collaboration with colleagues, has been honored with Gerald Loeb, Society for Advancing Business Editing and Writing, and New York Newswomen's Club awards.

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