Trump's Media Empire Suffers Major Losses Following Guilty Verdict

Former President Donald Trump's donation website crashed after he was found guilty of 34 charges in a criminal case. This is the first time a former U.S. president has been convicted of a felony crime. The website was updated with a message from Trump, claiming the verdict was part of a political witch hunt to stop him from winning the election. Trump's campaign and fundraising arms for House and Senate Republicans asked for donations to fight against what they called a political witch hunt. They claimed the trial was rigged and that Trump was a political prisoner. They urged supporters to contribute to push back against the accusations. President Joe Biden urged fundraising to prevent Trump from returning to the White House through voting. The case focused on Trump's alleged illegal payments to silence women during his 2016 campaign. Trump's social media platform, Truth Social, is owned by TMTG, a company that saw a drop in stock value after the guilty verdict. The stock closed at $51.84 before falling in after-hours trading due to the verdict. TMTG stock has been volatile, reaching highs of $66 in March and dropping to around $23 in April. Trump was found guilty of falsifying business records and will be sentenced in July.