Trump Media Scraps Some Businesses, Doubles Down on Truth Social and the President
- Trump Media & Technology is returning to its original media business by focusing on Truth Social after unsuccessful expansions into other industries.
- The company is now offering a paid service for fast access to President Trump's posts, which has attracted several high-speed trading firms.
- Trump Media has lost over $1 billion since the start of last year and reported a loss of $238 million for the three months ending June 30.
- The company faces financial pressure as it depends on outside funding and has a buyback deadline for lenders approaching in November.
Trump Media & Technology announced it will unwind much of its recent expansion efforts and refocus on its original media business, Truth Social. This decision comes after the company struggled to increase its stock value through various ventures, including online betting and finance.
The new strategy includes offering a service called Truth API, which provides subscribers with expedited access to President Trump's posts for a fee. This initiative has already attracted several high-speed trading firms that are willing to pay between $60,000 and $100,000 monthly for this service.
Despite these efforts, Trump Media has reported significant financial losses, totaling over $1 billion since last year, with a recent quarterly loss of $238 million largely attributed to declines in the value of its bitcoin holdings. The company is under pressure to secure additional funding as it approaches a key deadline for repaying lenders in November.
特朗普媒体公司缩减部分业务，重返Truth Social和总统相关业务
特朗普媒体公司宣布将缩减其近期扩展的业务，重新专注于其原始媒体业务Truth Social。此举是在公司通过在线博彩和金融等多项业务努力提升股价未果后做出的决定。
新战略包括提供名为Truth API的服务，为订阅者提供快速获取特朗普总统帖子的信息，收取费用。该举措已经吸引了多家高速交易公司，愿意为此服务支付每月6万到10万美元不等的费用。
尽管如此，特朗普媒体公司报告了显著的财务亏损，自去年以来总计超过10亿美元，最近一个季度的亏损为2.38亿美元，主要归因于其比特币持有价值的下降。公司面临着确保额外融资的压力，因为它在11月面临向贷款方回购的关键截止日期。