Company also announced a paid service for early access to president’s posts on policies to the social media site

Company also announced a paid service for early access to president’s posts on policies to the social media site

Donald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.

Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call about the earnings that after a yearlong effort to expand into online betting and crypto, the company would be refocusing on social media.

  • givesomefucks@lemmy.worldEnglish
    22·
    11 days ago

    He doesn’t care about companies, he bankrupts them constantly…

    losses in the three months through June came as the company branched into new ventures including crypto.

    Neither him nor his family is holding any of that.

    They bought a bunch for nothing. Then had the company buy a shit ton.

    Then after the rubes stopped buying, they sold their personal stashes, and let the company take the hit on crypto loss, to cover other gains. that way they could “insider trade” the crypto dump tip out in waves to different people.

    At the end of it, this loss covers gains elsewhere.