Truth Social instant access service launches with $100,000 pricing
President donald Trump’s social media company has introduced a new service called Truth API, offering high-paying clients real-time access to posts from Truth Social, the platform’s parent company. Starting August 1, subscribers can pay up to $100,000 per month for nearly instant streaming of the platform’s most influential posts, including those that impact financial markets. At least five firms have signed up for this service. Previously, markets relied on manual monitoring of Trump’s posts for market-moving news.Trump Media & Technology Group CEO Kevin McGurn highlighted the service’s potential to generate high-margin revenue. however, the initiative has attracted criticism from Democratic senators, such as Mark Warner, Elizabeth Warren, and Adam Schiff, who argue it could facilitate corruption and abuse of presidential power. In response,Trump’s company dismissed these concerns,accusing critics of misunderstanding or opposing free-market principles. The new API represents their first offering of this kind, raising debates about the ethical and regulatory implications of monetizing access to a former president’s social media activity.
President Donald Trump’s social media company on Saturday launched a new plan that offers high-paying clientele real-time access to posts on the platform.
Trump Media & Technology Group, the parent company of Truth Social, is offering Truth API, or application programming interface, to subscribers as of Aug. 1. APIs are data feeds used by social media platforms such as Instagram, Facebook, and X that are widely relied upon by retail and institutional traders for real-time financial and economic data to inform trading decisions.
Recommended Stories
Trump’s platform is charging Wall Street traders and investment firms as much as $100,000 for nearly-instant access to the president’s Truth Social posts and any other posts on the platform, according to multiple outlets. At least five firms have signed up to pay the $100,000 monthly fee, according to Truth Social.
Truth API is the company’s first such service, meaning financial markets had previously been relying on their own manual monitoring of the platform for the president’s frequent market-moving announcements, including ones on the Iran war, energy policy, and more.
“Markets already move on Truth Social posts,” Kevin McGurn, Trump Media’s interim chief executive officer, said. “Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream.”
Truth Social’s new subscriber plan has attracted outrage from Democrats in Congress.
Sen. Mark Warner (D-VA) sent a letter to the presidents of the Bank Policy Institute, Securities Industry and Financial Markets Association, Managed Funds Association, Financial Services Forum, Principal Traders Group, and American Bankers Association, urging them to reject the new Truth API, arguing it “creates a clear and unacceptable pathway for corruption.”
Earlier this week, Sens. Elizabeth Warren (D-MA) and Adam Schiff (D-CA) urged the Securities and Exchange Commission to investigate the product or ban it, writing that it “appears to be an outrageous abuse of the President’s office for his personal benefit.”
WHITE HOUSE TELEPROMPTER STAFFER PUT ON UNPAID ADMINISTRATIVE LEAVE OVER INSIDER TRADING SCANDAL
Trump’s company pushed back on Saturday.
“Senate Democrats continue to mischaracterize Truth API either out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information — or, quite possibly, both,” a Trump Media spokesperson told New York Magazine.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
