Former President Donald Trump's social media venture Truth Social is facing financial difficulties and accumulating losses. Trump Media & Technology Group (TMTG), chaired by Trump, has lost $31.6 million since its launch in 2021.
The company needs to complete a long-delayed merger to survive. Truth Social was created as an alternative to Twitter after Trump was banned from the platform. However, it has only gained 861,000 monthly active users, which is just 1% of Twitter's user base.
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