Donald Trump is now offering early access to his Truth Social posts in a move that has been seen as corruption benefitting a sitting president.
Trump Media and Technology Group officially rolled out its new subscription-based data service on Saturday, giving paying customers faster, real-time access to Truth Social posts from Trump and other high-profile accounts.
Called Truth API, the application programming interface is intended to provide businesses with “a direct, licensed, real-time feed of the platform’s most market-moving Truths”, interim CEO Kevin McGurn said in a release announcing the launch. Trading firms and other paying subscribers can now access the posts earlier than other users – for a fee of up to $100,000 per month.
The new offering mirrors similar paid data services available on competing social media platforms, though with a particularly steep price tag. However, Truth Social stands apart because its most influential user is Trump, who is also the largest shareholder of the publicly traded parent company, meaning he could personally benefit from the service.
Although the announcement does not specifically mention Trump, his @realDonaldTrump account is by far the platform’s largest. He frequently uses it to announce major policy decisions before making them elsewhere. As of Saturday, the account had 13 million followers.
Critics argue the service is blatant evidence of market manipulation and insider trading. Trump has repeatedly used Truth Social to reveal significant policy moves with the potential to shift financial markets, including posts involving tariffs and the Iran war.
The launch comes just days after Democratic senators Adam Schiff and Elizabeth Warren called on the Securities and Exchange Commission to examine the new service. In a letter dated Tuesday and sent to SEC chair Paul Atkins, the lawmakers urged the agency to investigate whether the company was breaking the law.
“This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders,” they wrote.
Last year, Trump published more than 100 Truth Social posts in a single day while global stock markets tumbled amid concerns that his economic agenda could trigger a “Trumpcession” in the US.
His posts about Iran have drawn particular attention because investors remain concerned that rising oil prices could keep inflation elevated and potentially lead the Federal Reserve to increase interest rates.
Trump Media’s stock has fallen by more than 70% since the president took office last year, wiping out roughly $6bn (£4.4bn) in shareholder value.
Those losses, combined with billions more in investor losses connected to new Trump family cryptocurrency ventures, have come under increased scrutiny after Trump’s annual financial disclosure showed he generated more than $1 billion in revenue last year from the same companies and offerings.
On Friday, one day before Truth API’s debut, shares of Trump Media climbed 5.5% to $10.39 shortly before the market closed, reported Forbes. The president’s company has primarily depended on advertising revenue, but the new API service could expand its revenue sources if it proves successful.
