trump media Interim CEO Kevin McGahn on Monday defended his company for providing faster access to President Donald Trump’s Truth Social posts, saying more customers are signing up for the expensive and controversial service.
“We’re in the mid-teens now, and it’s picking up steam,” McGahn said on CNBC’s “Squawk Box” when asked if more companies are starting to pay for a service called Truth API, which can cost up to $100,000 a month.
That’s an increase from two weeks ago, when McGahn said during Trump Media’s first-ever quarterly earnings call that “more than 10” customer deals had been signed. The service launched on August 1st.
Truth API has come under scrutiny from critics who argue that the service effectively allows deep-pocketed companies to trade valuable information before the general public, as the president frequently makes market-moving announcements through his Truth Social account. Mr. Trump is TMTG’s largest shareholder and his shares are held in a revocable trust.
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