Trump's Truth Social Faces Criticism and New Directions

Trump Media and Technology Group, the parent company of Truth Social, is pushing back against a recent Washington Post article. The article suggested that the company is struggling, even though Trump recently won the election. Most of TMTG's 650, 000 shareholders are small investors who believed in Trump. However, the company's shares have dropped, and it's facing an "identity crisis. " In the first nine months of the year, TMTG made just $2. 6 million but spent $363 million. Trump has fewer followers on Truth Social than on X. The Post also mentioned that Truth Social's visits dropped 20% in October compared to September, while X had 4. 6 billion visits.

TMTG isn't happy with how the Post handled their response. The Post only printed two words of TMTG's statement and refused to print the rest. TMTG thinks it's ironic that a story criticizing the need for a censorship-free platform would censor their statement. Trump owns a big chunk of TMTG, with a 59% stake. The company is now looking to enter the crypto world. They're in talks to buy Bakkt, a crypto exchange owned by Intercontinental Exchange.

Actions