Kenneth Glad
Some investors are paying heavily for a direct stream of public information. The arrangement has also revived questions about equal treatment in financial markets.
More than ten customers have signed contracts for Truth API, Trump Media and Technology Group‘s machine-readable feed for selected Truth Social accounts. The service is designed to deliver posts directly into computer systems without relying on the standard social media interface.
Interim chief executive Kevin McGurn said, according to CBS News, that most early buyers are high-frequency trading firms. Contracts generally cost between $60,000 and $100,000 a month, reflecting the value those companies place on receiving data with minimal delay.
Trump Media says the service does not provide private information. Instead, subscribers pay for a direct feed of public posts that their systems can pick up faster than users browsing Truth Social normally.
Even a small timing advantage can be valuable for automated trading firms. Trump often uses Truth Social to announce decisions on tariffs, foreign policy and other issues that can quickly affect financial markets
Built for machines
Truth API officially launched on August 1. Trump Media says the service includes an archive of posts dating back to 2022, giving customers access to both new material and older content from selected Truth Social accounts.
An API allows computer systems to exchange information directly, without someone having to keep checking a website or app. For trading firms, that means software can monitor new Truth Social posts as they appear, process the information and respond within a very short period of time.
Trump Media has not said exactly how much faster the service is compared with ordinary access to the platform. The company has stressed, however, that the posts are already public and that customers are merely paying for a more direct and efficient way of receiving them.
The potential market extends beyond Wall Street. McGurn has also discussed offering access to artificial intelligence companies, large cloud-computing businesses and news organizations, according to CNN. Those customers could use the feed for purposes ranging from automated analysis to faster monitoring of public statements.
Scrutiny follows
The idea has drawn attention in Washington, where lawmakers have questioned whether paying for faster access could create an uneven playing field. Democratic senators Elizabeth Warren and Adam Schiff asked the Securities and Exchange Commission to examine whether the arrangement could conflict with federal securities law.
Their concern centers on whether well-funded trading firms could gain an advantage over ordinary investors by receiving market-sensitive posts more quickly. They wrote: “Early access to President Trump’s social media posts for Wall Street firms, wealthy insiders and high-frequency traders will erode investor confidence in basic fairness of the markets.”
The debate comes as Trump Media continues to search for stronger sources of revenue. The company remains unprofitable despite reporting higher sales in the second quarter.
Revenue reached about $1.7 million, up 89 percent from the same period a year earlier. At the same time, Trump Media recorded a net loss of roughly $238.1 million, highlighting the gap between its growing revenue and its overall financial performance.
Sources: Trump Media and Technology Group, CNN, CBS News
