BlockBeats News, July 16th, according to Axios, the Trump Media and Technology Group will launch the Truth API, allowing financial service companies to pay for access to real-time data from Truth Social. This is the company's first expansion of its media business into the data licensing field and is scheduled to be officially launched on August 1st.

The Truth API will initially provide real-time posts from the top 10 most popular accounts on the platform, including Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino, and US Secretary of Health and Human Services Robert F. Kennedy Jr., among others. The company may expand the accessible account range based on the level of payment from customers in the future.

Interim CEO Kevin McGurn stated that the company has signed multiple clients before the launch, including financial news agencies and high-frequency trading companies, but did not disclose a specific list. He mentioned that some institutions have long been scraping Truth Social data and reselling it to institutional clients, and accessing data through the API will be significantly faster than scraping.

The Trump Media group is also discussing authorizing Truth Social data to an AI company for large language model training. The company had advertising and subscription revenue of $3.68 million last year, with a net loss of $712 million, with the majority coming from accounting expenses related to cryptocurrency investments.