In a significant move, Trump Media & Technology Group, the company behind the Truth Social platform, reported a staggering $238 million loss in Q2 2022, largely due to forays into businesses unrelated to media such as crypto. The new CEO, Kevin McGurn, announced plans to refocus the business on its social media mission and launch a service called Truth API, offering Wall Street trading firms early access to top posters on Truth Social, including President Donald Trump. This move aims to capitalize on Trump's influence in shaping markets with major policy shifts posted on the platform. However, concerns about potential profiteering from the presidency persist, with Democrats pledging to investigate if they gain control of Congress in the midterms. The new service charges between $60,000 to $100,000 a month and has already secured 10 customers, primarily high-frequency trading firms. McGurn also confirmed the continuation of one previously announced venture, nuclear fusion, with hopes to finalize a merger with energy company TAE Technologies by year-end. Despite Q2's unrealized paper losses from falling cryptocurrency values, the company reported more than double its revenue from the previous year, reaching $1.7 million. With over $400 million in cash and short-term investments, Trump Media appears to be financially stable despite a looming $1 billion debt from convertible notes due in 2028.