Truth Social to sell banks 'fastest' access to Trump's posts
The paid feed will give customers millisecond access to top Truth Social accounts and could create a recurring revenue stream, McGurn said.
- Trump Media & Technology Group launched Truth API on Thursday, offering financial firms 'licensed, real-time access' to posts from President Donald Trump and other top accounts, with the service available to enterprise customers starting in August.
- Trump's @realDonaldTrump account dominates Truth Social with 12.9 million followers, and he regularly posts official communications first on the platform, making it a must-follow for Wall Street firms tracking the presidency.
- The API delivers significantly faster data access than manual scraping and includes 24/7 coverage plus a post archive dating to 2022, targeting algorithmic trading firms where information delays carry financial costs, interim CEO Kevin McGurn said.
- Ethics attorney Virginia Canter with Democracy Defenders Fund called it 'a huge conflict of interest,' arguing Truth Social has 'become the de facto presidential press room,' while The White House declined comment and forwarded inquiries to the Trump Organization.
- With Trump Media shares down 84% since going public on Nasdaq under ticker DJT in March 2024, the Truth API represents a critical revenue stream for the struggling company amid broader market challenges.
182 Articles
182 Articles
Truth Social plan to sell early access to Trump posts ‘makes me want to puke,’ CNBC reporter fumes
Truth Social's new Truth API will sell financial firms faster access to Donald Trump's market-moving posts, sparking debate over insider trading and high-frequency trading advantages.
Want Trump's Truth Social posts first? It could cost $100,000 a month: Report
Trump Media & Technology Group is reportedly considering charging banks and trading firms as much as $100,000 a month for faster access to US President Donald Trump's Truth Social posts, according to a Financial Times report.
Long harangues with sudden capitalization – and plenty of punctuation. Donald Trump has made Truth Social his megaphone. Now he wants to make money from the bets.
New paid service from the US president's company is intended for investors who want to react faster to information with impact on the market. Experts denounce "disgusted corruption".
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