{"id":66938,"date":"2025-08-05T13:08:02","date_gmt":"2025-08-05T20:08:02","guid":{"rendered":"https:\/\/www.newscorpse.com\/ncWP\/?p=66938"},"modified":"2025-08-05T13:08:02","modified_gmt":"2025-08-05T20:08:02","slug":"the-trump-media-and-technology-group-truth-social-scam-reflects-his-fondness-for-fraud","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=66938","title":{"rendered":"The Trump Media and Technology Group (Truth Social) Scam Reflects His Fondness for Fraud"},"content":{"rendered":"<p>When Donald Trump launched his Trump Media and Technology Group (TMTG), he was brimming with optimism about the future of his new venture. Four years later that optimism has utterly failed to be affirmed. The business that runs Trump&#8217;s Truth Social website and a handful of other insolvent enterprises has never turned a profit.<\/p>\n<p style=\"text-align:center\"><strong><a href=\"https:\/\/twitter.com\/intent\/tweet?text=The Trump Media and Technology Group (Truth Social) Scam Reflects His Fondness for Fraud%0D&#038;url=https:\/\/www.newscorpse.com\/ncWP\/?p=66938\" rel=\"noopener\" target=\"_blank\">Click here to post this article on Twitter<\/a> or <a href=\"https:\/\/bsky.app\/intent\/compose?text=The Trump Media and Technology Group (Truth Social) Scam Reflects His Fondness for Fraud%20https:\/\/www.newscorpse.com\/ncWP\/?p=66938\" rel=\"noopener\" target=\"_blank\">Click here to post on Bluesky<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newscorpse.com\/Pix\/Trump\/trump-stock-chart-red.jpg\" alt=\"\" width=\"550\" height=\"296\" class=\"aligncenter size-full wp-image-43291\" \/><\/p>\n<p>In 2024, <strong><a href=\"https:\/\/www.cnbc.com\/2025\/02\/14\/trump-media-djt-earnings-report-2024.html\" target=\"_blank\">TMTG reported a net loss of $400.9 million<\/a><\/strong> despite only booking revenue of $3.6 million. They reported a net loss of $31.7 million in the first quarter of 2025. Most recently, in the second quarter of 2025, the company <strong><a href=\"https:\/\/variety.com\/2025\/digital\/news\/trump-truth-social-tmtg-q2-2025-earnings-1236477039\/\" target=\"_blank\">reported a net loss of $20 million<\/a><\/strong> on only $883,300 in net sales.<\/p>\n<p>However, none of that prevented Trump from making preposterous claims about his financial misadventures. During an interview on CNBC, Trump complained that he has been treated <em>&#8220;very badly&#8221;<\/em> by banks that he alleged were discriminating against him. Of course that might be because of the 34 felony convictions he has for defrauding banks. Not to mention a civil lawsuit finding of liability that cost him about half a billion dollars.<\/p>\n<blockquote class=\"bluesky-embed\" data-bluesky-uri=\"at:\/\/did:plc:fviqe3xscfdntuwbuzppqetg\/app.bsky.feed.post\/3lvo3qlpp7c2v\" data-bluesky-cid=\"bafyreiga77nq74gudvksuro5ooox5ns2lqapncyoifgcecskgvzekksbvy\">\n<p lang=\"en\">FOR THE RECORD: Trump was found guilty on 34 felony counts of falsifying business records to defraud banks. Maybe that had something to do with his trouble getting U.S. banks to do business with him. So he went to the Russians.<\/p>\n<p>&mdash; <a href=\"https:\/\/bsky.app\/profile\/did:plc:fviqe3xscfdntuwbuzppqetg?ref_src=embed\">News Corpse (@newscorpse.bsky.social)<\/a> <a href=\"https:\/\/bsky.app\/profile\/did:plc:fviqe3xscfdntuwbuzppqetg\/post\/3lvo3qlpp7c2v?ref_src=embed\">2025-08-05T16:07:51.546Z<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/embed.bsky.app\/static\/embed.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Any reputable bank would be hard pressed to justify doing business with Trump who, in addition to the above, has filed at least four bankruptcies. As for TMTG, the week before his inauguration this year it was trading at about $43.00. Six months later it is under $17.00. A decline of more than 60%. During the same time period the S&#038;P 500 rose more than 8%.<\/p>\n<p>The only recent news for the company was its <strong><a href=\"https:\/\/www.cbsnews.com\/news\/trump-media-2-billion-bitcoin-crypto-treasury-strategy\/\" target=\"_blank\">purchase of $2 billion worth of Bitcoin<\/a><\/strong>. Which is a major departure from its core media technology business to a sort of cryptocurrency treasury. TMTG had to raise funds from unnamed institutional investors to finance the purchase, which raises questions of conflicts of interest and and\/or political bribery.<\/p>\n<p>Meanwhile, <strong><a href=\"https:\/\/www.coinbase.com\/price\/official-trump\" target=\"_blank\">Trump&#8217;s crypto meme coin<\/a><\/strong>, which he launched the day before his inauguration at $74.00, is now trading at about $9.00, a massive drop of 88%. Trump also signed legislation &#8211; <strong><a href=\"https:\/\/apnews.com\/article\/crypto-stablecoins-trump-senate-383b502d3d80169f8f4739055dada0cb\" target=\"_blank\">the so-called GENIUS Act<\/a><\/strong> &#8211; that benefits his own investments in the crypto market. Nothing suspicious about that, is there?<\/p>\n<p>Despite the economic debacles that Trump has presided over, he himself has managed to profit. He continues to be skillful at enriching himself while fleecing his flock of cult disciples. At the same time he is providing a path for interested parties to grease his palm for political favors. That includes adversarial foreign operatives who are buying influence, not investing.<\/p>\n<p>The brief history of Trump&#8217;s involvement in the media, technology, and crypto businesses is rampant with failure and potential fraud. For instance&#8230;<\/p>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=66551\" target=\"_blank\">Truth Social Parent Plans Desperate Share Buyback to Boost its Failing Stock and Enrich Trump<\/a><\/strong><br \/>\nThis is a tactic that is sometimes used to juice failing stocks. By reducing the shares available on the market, the remaining shares should be more valuable. That would mean an extraordinary leap in wealth for Trump who is the largest stakeholder<\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=66437\" target=\"_blank\">SRSLY? Trump Brags that His Pitifully Failing Meme Coin is a \u2018Tracker\u2019 of His Imaginary Success<\/a><\/strong><br \/>\nTrump\u2019s meme coin is hardly a game-changer. While it has generated a significant horde of untraceable cash for Trump, who paid nothing for his shares, it has been an abysmal loser for nearly everyone else who was foolish enough to invest in it.<\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=66013\" target=\"_blank\">Trump\u2019s Truth Social is Creating \u2018Non-Woke\u2019 Investment Portfolios for MAGA Cult Investors\/Dupes<\/a><\/strong><br \/>\nThe focus of the Trump investment portfolios rests on buzzwords plucked from his political rhetoric. And what could possibly have more income potential than <em>\u201cnon-woke\u201d<\/em> enterprises that pursue the anti-democratic goals of the MAGA movement?<\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=65197\" target=\"_blank\">Truth Social, Trump\u2019s Pathetic Personal Propaganda Platform, Continues to Bleed Cash<\/a><\/strong><br \/>\nIn what may be the least surprising news of the year so far, Donald Trump\u2019s flagship social media enterprise, Trump Media and Technology Group (TMTG) \u2013 the parent holding company of his failing Twitter ripoff, Truth Social \u2013 released its annual report on Friday that revealed just how big a failure it is.<\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=62402\" rel=\"noopener\" target=\"_blank\">Trump&#8217;s Truth Social is Shedding Users Like a Miserable Childless Woman&#8217;s Mangy Cat<\/a><\/strong><br \/>\nThe Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform\u2019s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.<\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=57278\" rel=\"noopener\" target=\"_blank\">Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam<\/a><\/strong><br \/>\nTrump&#8217;s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that <em>&#8220;the three individuals together made more than $22 million in illegal profits.&#8221;<\/em><\/p><\/blockquote>\n<blockquote><p><strong><a href=\"https:\/\/www.newscorpse.com\/ncWP\/?p=56201\" rel=\"noopener\" target=\"_blank\">Truth Social Disease: Ads on Trump\u2019s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch<\/a><\/strong><br \/>\nAdvertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.<\/p><\/blockquote>\n<blockquote>\n<div>\n<p style=\"text-align:center\"><strong>Be sure to visit and follow News Corpse<br \/>\non <a href=\"https:\/\/twitter.com\/NewsCorpse\" rel=\"noopener\" target=\"_blank\">Twitter<\/a> and <a href=\"https:\/\/www.facebook.com\/NewsCorpse\/\" target=\"_blank\">Facebook<\/a> and <a href=\"https:\/\/bsky.app\/profile\/newscorpse.bsky.social\" target=\"_blank\">Bluesky<\/a> and <a href=\"https:\/\/www.threads.net\/@newscorpse\" rel=\"noopener\" target=\"_blank\">Threads<\/a>.<\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong>And check out my books on Amazon:<\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong><a href=\"http:\/\/amzn.to\/2aOYFpM\" target=\"_blank\" title=\"\">Fox Nation vs. Reality:<br \/>\nThe Fox News Cult of Ignorance.<\/a><\/strong>\n<\/p>\n<p style=\"text-align:center\"><strong>Thanks so much for your support.<\/strong><\/p>\n<\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>When Donald Trump launched his Trump Media and Technology Group (TMTG), he was brimming with optimism about the future of his new venture. Four years later that optimism has utterly failed to be affirmed. The business that runs Trump&#8217;s Truth Social website and a handful of other insolvent enterprises has never turned a profit. Click [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1,8,13,11,16],"tags":[233,1533,554,1133,1458],"class_list":["post-66938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-propaganda","category-scandalous","category-socialmedia","category-wankery","tag-cnbc","tag-crypto","tag-donald-trump","tag-propaganda","tag-truth-social"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-hpE","jetpack-related-posts":[{"id":68827,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=68827","url_meta":{"origin":66938,"position":0},"title":"Trump&#8217;s Truth Social is Littered with Loathsome Lies &#8211; Now Including a Fake JFK Jr","author":"Mark NC","date":"2\/10\/2026","format":false,"excerpt":"The dedicated propaganda platform that Donald Trump built, hilariously named \"Truth\" Social, was designed from the start to disseminate his putrid perspective of life in his warped vision of America. The website has always been gushing with flagrant falsehoods aimed at cultivating the devotion of his misguided cult disciples. Click\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Toilet, Bathrobe","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-toilet-bathrobe.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-toilet-bathrobe.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-toilet-bathrobe.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":68571,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=68571","url_meta":{"origin":66938,"position":1},"title":"Trump&#8217;s Scammy Media Stock, and Truth Social Parent, Completes a Classic Pump and Dump","author":"Mark NC","date":"12\/30\/2025","format":false,"excerpt":"As the first year of Donald Trump's second occupation of the White House winds down, the evidence of his failure is glaringly apparent. His administration has presided over economic debacles, executed foreign policy blunders, and is mired in domestic scandals, including the Jeffrey Epstein affair that is breaking apart his\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"Trump Baby on Cash Pile","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":69682,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=69682","url_meta":{"origin":66938,"position":2},"title":"YOU&#8217;RE FIRED: Trump Media&#8217;s CEO, Devin Nunes, Gets Booted From the Failing Truth Social Company","author":"Mark NC","date":"4\/22\/2026","format":false,"excerpt":"Shortly After Trump was banned from Twitter, before the Musk era, he launched his own social media website that was a direct ripoff of Twitter. His hysterically named \"Truth\" Social quickly became the dedicated propaganda platform for Trump's ranting, insulting, lying, and shameless self-exaltations. Click here to post this article\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Stock Market","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":66551,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=66551","url_meta":{"origin":66938,"position":3},"title":"Truth Social Parent Plans Desperate Share Buyback to Boost its Failing Stock and Enrich Trump","author":"Mark NC","date":"6\/23\/2025","format":false,"excerpt":"America's Grifter-in-Chief, Donald Trump, has tried an extensive number of financial scams intended to fatten his wallet at the expense of his gullible cult followers. They range from selling cheesy merch like sneakers, phones, bibles, and crypto, to committing fraud that resulted in 34 felony convictions. Click here to post\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Trump Baby on Cash Pile","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":66214,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=66214","url_meta":{"origin":66938,"position":4},"title":"SRSLY? WH Propaganda Secretary: It&#8217;s &#8216;Ridiculous&#8217; to Say Trump Does Anything For His Own Benefit","author":"Mark NC","date":"5\/10\/2025","format":false,"excerpt":"The prolific outpouring of preposterous pronouncements that emanate from Donald Trump's White House create a daily flash flood of foolishness and farce. His Press\/Propaganda Secretary, Karoline Leavitt, has effortlessly surpassed the record breaking threshold of lies achieved by her Republican predecessors. Click here to post this article on Twitter or\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump and Press Secretary Karoline Leavitt","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-leavitt-whitehouse.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-leavitt-whitehouse.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-leavitt-whitehouse.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":65197,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=65197","url_meta":{"origin":66938,"position":5},"title":"Truth Social, Trump&#8217;s Pathetic Personal Propaganda Platform, Continues to Bleed Cash","author":"Mark NC","date":"2\/15\/2025","format":false,"excerpt":"In what may be the least surprising news of the year so far, Donald Trump's flagship social media enterprise, Trump Media and Technology Group (TMTG) - the parent holding company of his failing Twitter ripoff, Truth Social - released its annual report on Friday that revealed just how big a\u2026","rel":"","context":"In &quot;Crime&quot;","block_context":{"text":"Crime","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1475"},"img":{"alt_text":"Donald Trump Circling the Drain","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_featured_media_url":"https:\/\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stock-chart-red.jpg","_links":{"self":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/66938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66938"}],"version-history":[{"count":2,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/66938\/revisions"}],"predecessor-version":[{"id":66954,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/66938\/revisions\/66954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/media\/43291"}],"wp:attachment":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}