Trump Media Launches Paid High Speed Access to Truth Social Posts for Financial Firms

Trump Media and Technology Group has launched a subscription data service called Truth API that provides banks and trading firms with faster, real time access to posts from influential Truth Social accounts, including that of US President Donald Trump. The service, which officially launched on Saturday, reportedly costs up to 100,000 US dollars per month. Kevin McGurn, the company administrator, stated that the service is designed to provide a licensed feed of the platform's most market moving posts to create a recurring revenue stream.

Financial institutions seek this access because the president's posts on economic policy and global affairs have historically caused market fluctuations. Examples include price swings in oil following posts about the war between the US and Iran, as well as a surge in U.S. Steel shares after the president promoted foreign investment in the company. The service targets hedge funds and trading firms that can profit from receiving information seconds or milliseconds before the general public.

Democratic Senators Adam Schiff and Elizabeth Warren have called on the Securities and Exchange Commission to investigate the service for potential violations. They argue that the arrangement allows the president and his family, who are major shareholders in Trump Media, to profit privately from the president's official position. Critics suggest this creates a two tier system where wealthy firms have an unfair advantage over ordinary investors.

Outlets with a center lean focused on the business mechanics and the specific cost of the API. Outlets with a center left lean emphasized the ethical concerns, framing the move as a potential conflict of interest and a means of personal enrichment for the president and his family.