Trump sued over Truth Social advance access sale
The lawsuit says more than 10 financial firms pay up to $100,000 a month for advance access to Trump’s posts.
- The Intercept Media and the Freedom of the Press Association sued President Donald Trump and Trump Media on Tuesday over the sale of early access to Truth Social posts, alleging constitutional violations.
- Trump Media launched the Truth API in July, pitching the service to Wall Street firms seeking faster access to content; the company said it is 'expected to provide the company with a new revenue stream.'
- More than 10 high-frequency trading firms pay between $60,000 and $100,000 monthly for accelerated access, using sophisticated algorithms to act on potentially market-moving statements seconds before competitors.
- Plaintiffs allege the arrangement violates the Constitution, calling it 'corrupt, and unconstitutional,' while critics question if a company tied to Trump's family should profit from his public statements.
- Facing a $238 million second-quarter loss with $1.7 million in revenue, Trump Media views the service as a 'meaningful' and 'durable' source of revenue; CEO Kevin McGurn aims to expand sales to technology companies and betting markets.
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Trump sued over sale of access to Truth Social posts
The lawsuit, filed in New York by The Intercept and Freedom of the Press Foundation, states that the scheme is "extraordinary, corrupt and unconstitutional." Subscribers to the paid service are supposed to get almost instantaneous access to Trump's messages on the Truth Social platform -- crucial seconds ahead of the general public. The billionaire Republican often uses the platform to announce huge news, ranging from developments in the Iran wa…
President Donald Trump was prosecuted by two media organizations because of Trump Media & Technology Group's plan to sell faster access to his publications in Truth Social. The Intercept Media, news organization, and the non-profit Freedom of the Press Foundation called on a New York court this Wednesday to block the plan, classifying it as extraordinary, corrupt and unconstitutional.
In the United States, the President's decision raises fears of insider dealing, both in what he publishes and in which he has the ability to react to markets.
Trump sued over $100,000 Truth Social plan for early access to market-moving posts: ‘Profoundly corrupt’
Two US media groups have sued President Trump over his company’s plan to charge for early access to his Truth Social posts, claiming it is unconstitutional and corrupt.
Two press organisations challenge the sale of priority access to the publications of the former US President, denouncing a system deemed to be contrary to constitutional rules
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