Trump Media & Technology Group (TMTG) is reportedly offering a new service called Truth API, which gives hedge funds and trading firms faster access to Donald Trump's posts on Truth Social. This premium data feed is being pitched at up to $100,000 per month for the lowest latency access, with a discounted rate of $60,000 per month for a three-year commitment. The service, set to launch on August 1, aims to monetize the market-moving potential of Trump's social media activity, which has often influenced stock prices, currency exchanges, and commodity markets in milliseconds.
The initiative has drawn significant criticism from ethics experts and Democratic lawmakers. Senator Elizabeth Warren called it an "egregious scheme to profit off the presidency," while Senator Ron Wyden stated it would financially benefit the Trump family and "make Wall Street traders rich." Ethics lawyers like Dan Greenberg of the Cato Institute and Kathleen Clark of Washington University School of Law raised concerns about potential insider trading and "brazen corruption," as Trump holds approximately 53% of TMTG through a revocable trust and is exempt from federal conflict-of-interest statutes as president.
TMTG launched Truth API, a 24/7 service delivering posts in milliseconds from the 10 most influential Truth Social accounts, on July 16. It hopes to generate a steady profit and diversify revenue streams, given its reported net loss of around $405 million in the first quarter and an 84% decline in DJT share value from post-merger highs. Despite the ethical objections, TMTG interim CEO Kevin McGurn framed the feed as a "direct, licensed, real-time" version of market intelligence traders are already seeking, confirming that "markets already move on Truth Social posts."
