Trump Media & Technology Group, owner of Truth Social, is introducing a new service called "Truth API" to license real-time data from its platform to financial services companies. Interim CEO Kevin McGurn stated that this move represents the company's initial venture into data licensing, aiming to establish a recurring revenue stream. The service will provide paying customers with immediate access to posts from the platform's most influential accounts, including those of former President Donald Trump, recognizing that such posts often influence market movements.
Discussions have involved charging Wall Street traders and investment firms as much as $100,000 per month for access to this faster feed of information. A discounted plan of $60,000 per month is also being offered for firms that commit to a three-year agreement. This real-time access is considered crucial for high-frequency trading firms, where even a few milliseconds' advantage can lead to significant gains on substantial trades.
The Truth API is scheduled to launch on August 1 and has already secured some institutional customers. McGurn emphasized that "Markets already move on Truth Social posts," underscoring the value of this data for financial professionals. The company sees this as a strategic step to monetize its proprietary assets through a high-margin, recurring revenue model. However, the initiative has drawn criticism from Democratic lawmakers, who view it as a scheme to benefit the Trump family and Wall Street traders.
Examples of market impact cited include an instance on April 9, 2025, when Wall Street indexes rose sharply after Trump announced a 90-day pause on new tariffs via a Truth Social post. Senators Ron Wyden and Elizabeth Warren have both expressed concerns, labeling it an "egregious scheme" to profit from the presidency. Trump Media did not mention the former president directly in its press release but highlighted the market-moving potential of its posts.
