Truth API Launch Yields Revenue for Trump Media Amid Crypto Losses

Trump Media's Truth API made money in its first week of operation, despite the company's struggling crypto assets. The service delivers posts from Trump's account and nine other high-ranking Truth Social accounts within milliseconds of publication to paying customers, including at least five institutional clients.

The launch of Truth API has been noticed by investors, with DJT stock rising 48% since its June all-time low of $6.96. The rally added an estimated $600 million to Trump's net worth, largely through his stake in Trump Media, held via the Donald J. Trump Revocable Trust.

The service is priced at up to $100,000 a month or $60,000 with a three-year commitment, with at least one full-price annual subscription already exceeding the company's entire quarterly revenue of $871,200. The market has taken note of the growth potential of Truth API, which doesn't depend on crypto prices.

The launch of Truth API has raised concerns about insider trading, as it sells early access to posts from the sitting president and his most-followed allies. Democrats in both chambers have asked the SEC to evaluate the product against insider-trading, market-manipulation, and broker-dealer rules, but the agency still hasn't responded.