Trump is preparing to shake up the financial market by selling special access to his Truth Social posts to Wall Street companies through a new subscription model.
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American President Donald Trump’s posts on Truth Social are now being prepared for sale by his media company to Wall Street financial firms. A new subscription model is being launched to provide fast and exclusive access to Trump’s posts.
Since Trump’s statements can influence financial markets, even a few milliseconds of advance access can be valuable, according to his company, Trump Media & Technology Group (TMTG). According to Reuters, TMTG plans to launch a data feed service called ‘Truth API’ starting August 1. Through this, banks, hedge funds, and algorithmic trading companies will gain access to posts from Trump’s Truth Social account as well as nine other influential accounts.
According to a source who spoke to Reuters, the company has proposed a monthly fee of up to $100,000 for this service. For customers signing a three-year contract, the monthly fee is set at $60,000. Through this service, customers will receive 24/7 access to posts, an archive of posts since 2022, and updates faster than standard push notifications.
TMTG claims that it has already reached agreements with some customers before the service is made public. Truth Social has not disclosed its official user numbers. “Posts on Truth Social have been influencing the market,” said TMTG’s acting CEO, Devin McGurn. “Truth API provides direct, real-time access to Truth Social posts.”
This plan has drawn criticism from U.S. Democratic lawmakers. “President Trump is selling Wall Street traders the opportunity to profit by giving them access to his social media posts before the general investing public,” Reuters quoted Senator Ron Wyden as saying. Senator Elizabeth Warren has also called for further investigation into this arrangement.
According to Reuters, legal experts have said that providing tiered access to information that will be published publicly is generally legal under current U.S. securities law. However, questions have been raised about whether it is appropriate, from an ethical standpoint, for a sitting president’s market-moving statements to be turned into a commercial product.
