More than 10 firms pay up to $100k a month for access to Truth Social posts
Trump Media & Technology Group is charging high-frequency trading firms up to $100,000 monthly for early access to Truth Social posts. The company, which reported significant quarterly losses, views this API service as a key future revenue stream.
Why it matters
The practice raises ethical and legal questions regarding the monetization of political influence and potential market manipulation through privileged information access.
Share Save Add as preferred on Google Osmond Chia Business reporter Bloomberg via Getty Images President Trump launched the Truth Social social media platform in 2022 More than 10 customers have signed up to Trump Media's controversial service that offers faster access to market-moving posts made on its Truth Social platform.
The service, Truth API, launched at the beginning of August and gives Wall Street traders first sight of posts from the social media site's most influential accounts.
Its earliest customers are mostly in high-frequency trading firms who are being charged between $60,000-$100,000 (£44,000-£74,000) a month for the service, interim chief executive officer Kevin McGurn said during an earnings call.
He was speaking after Trump Media reported a loss of $238m between April and June.
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