Trump Stands to Profit Off US Policy Announcements by Selling Fast Access to His Social Media Posts
The service would charge up to $100,000 a month for milliseconds-faster access to Trump posts, raising insider-trading concerns.
- Starting Saturday, Trump Media & Technology Group launched 'Truth API,' providing high-frequency traders early access to President Donald Trump's posts for up to $100,000 monthly, prompting House Judiciary Committee Ranking Member Jamie Raskin to demand company records.
- In a Thursday letter to Interim Chief Executive Officer Kevin McGurn, Raskin called the service the 'depraved essence of insider trading,' arguing it allows Wall Street to profit from the president's market-moving announcements.
- Legal experts including former SEC official Renée Jones argue monetizing non-public information violates federal securities laws, while Democratic Sens. Elizabeth Warren and Adam Schiff demanded an investigation from U.S. Securities and Exchange Commission Chair Paul Atkins on Tuesday.
- Defending the initiative, TMTG spokeswoman Shannon Devine stated the product offers 'the fastest way to ingest publicly available Truth Social data' and rejected accusations of insider trading as a newly invented theory.
- Raskin gave Trump Media until August 13 to produce records, highlighting concerns about the president owning roughly 41% of the company through a trust while serving in office.
31 Articles
31 Articles
Trump Media's new paid data service goes live, giving clients faster access to Trump’s posts
Trump Media and Technology Group's new paid data service launched Aug. 1, selling faster access to top Truth Social posts from President Donald Trump and more.
Trump could profit from US policy news with paid early access to Truth Social posts
NEW YORK: President Donald Trump knows the world hangs on his every word. Now he wants you to pay for it.The social media posts of the world's most powerful man are going on sale Saturday when his Truth Social business begins offering sneak peeks of them to Wall Street traders willing to pay up. The move raises the prospect of big profits for Trump's company and big questions about insider trading and using public office for private gain.Similar…
Truth Social to sell faster Trump posts to traders, sparking ethics concerns
Truth Social will sell Wall Street traders a paid fast feed of Donald Trump's posts from Saturday. The service could boost revenue while fuelling concerns over insider trading and public office for private gain.
Associated Press News
Trump stands to profit off US policy announcements by selling fast access to his social media posts
Investors looking to get a jump on White House announcements will be able to buy sneak peeks starting Saturday as a Trump family company starts selling special, fast access to the president's posts on social media.
Coverage Details
Bias Distribution
- 52% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
