Trump Media & Technology, the company behind the President’s Truth Social platform, lost $238 million in Q2, Associated Press reports. It attributed the loss
to its entry into businesses like crypto and online betting that are unrelated to media. The loss was more than 10 times that of the same period last year. The company will refocus the
business on its social media mission. “We made the disciplined choice to pivot in order to invest more time and resources in our most important initiatives,” said Kevin McGurn, the new
chief executive of Trump Media. “We will say no to things or change course as warranted.”
Read the whole story at Associated Press »