Trump Media CEO defends Truth API service amid growth

Trump Media & Technology Group interim CEO Kevin McGurn on Monday defended his company offering faster access to President Donald Trump's Truth Social posts, and said more customers have signed up for the pricey and controversial service.

"We're getting into the mid-teens now, and we're climbing," McGurn told CNBC's "Squawk Box" when asked if more companies had started paying for the service dubbed Truth API, which costs up to $100,000 per month.

That's an increase from two weeks earlier, when McGurn said on Trump Media's first-ever quarterly earnings call that "more than 10" customer agreements had been signed. The service went live on Aug. 1.

Truth API has garnered intense scrutiny from critics who argue that since the president often makes market-moving announcements through his Truth Social account, the service effectively lets deep-pocketed firms trade on valuable information before the rest of the public. Trump is a top shareholder in TMTG, with his stake being held in a revocable trust.