Truth Social instant access service launches with $100,000 per month price tag
Washington Examiner · RC · trust 54/100
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.
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.”
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 .
Read the original at Washington Examiner →
Open in TruthVane →