Trump Media & Technology Group is launching a paid and licensed data feed called ‘Truth API’ to give banks and businesses faster access to posts from the 10 most influential Social Truth accounts, but is not releasing any pricing information.
NEW YORK, USA – of Donald Trump The social media company has discussed charging Wall Street traders and investment firms up to $100,000 a month for instant access to the US president’s posts on its Social Truth platform, according to people familiar with the matter.
Trump Media & Technology Group, which owns Social Realityin recent weeks it has also offered a $60,000-a-month plan discount if companies sign up for a three-year plan, the sources said, speaking on condition of anonymity because the discussions are confidential.
TMTG on Thursday, July 16, launched a paid, licensed data feed called the “Truth API” to give banks and businesses faster access to posts from the 10 most influential Social Truth accounts, but did not provide any pricing information.
The move would be the company’s first foray into data licensing, opening up a new revenue stream, though it drew immediate criticism from Democrats.
US Senator Ron Wyden of Oregon, the top Democrat on the Senate Finance Committee, said it would financially benefit the Trump family and “make Wall Street traders rich.”
The White House referred questions about Wyden’s remarks to TMTG, which did not immediately respond to a request for comment.
Trump’s social media posts often move the market, and the profits of many top trading firms, hedge funds and financial services firms depend heavily on the speed of trading.
On April 9, 2025, for example, Wall Street’s major indexes rose further after Trump said in a Social Truth post that he would suspend his new tariffs for 90 days.
Access to the Truth API will be important for high-frequency trading companies as a speed gain of a few milliseconds can result in hundreds of thousands of dollars in profits for large businesses, the sources said.
The Financial Times reported discussions about the $100,000 registration fee earlier on Thursday, July 16.
Profit from policy announcements
TMTG has faced challenges in strengthening its media business amidst intense competition from major social media companies. The new product will offer hourly advertising of influential posts and include an archive of posts dating back to 2022. The company said it had already signed up customers ahead of the Aug. 1 launch, but did not say who they were.
Some of the most followed accounts on Truth Social belong to Trump himself and those closely associated with him, including his sons Donald Trump Jr. and Eric Trump, as well as prominent supporters such as Dan Bongino and Sean Hannity.
The Donald J. Trump Revocable Trust holds about 114.75 million shares, representing about 41% of all outstanding shares in TMTG, according to regulatory filings. The trust, which his children manage, manages Trump’s investments.
Critics have raised questions about whether Trump and his family have sought to benefit from the policies announced by his administration. In his most recent financial disclosures, Trump reported more than $1.4 billion in income from his family’s money ventures last year, after his income from digital assets benefited from the policies he announced.
The Truth API arrangement “would be largely unethical,” said Donald Sherman, president of the nonpartisan organization Citizens for Responsibility and Ethics in Washington, because the president would benefit from the payment of quick access to his posts. However, it is difficult to determine from publicly available information if it is illegal, he said.
Sherman and other experts believe that the emoluments clause of the Constitution, designed to prevent corruption, will not apply in this case. They prevent federal officials from receiving gifts from foreign governments without congressional approval, and the president from receiving gifts from states.
And while federal regulations generally prohibit buying or selling securities based on material, nonpublic information, that restriction won’t apply if potentially hundreds or thousands of people receive early access to his publications, Sherman said.
“I don’t think Congress or any regulatory body ever thought that the president or the market leader would participate in this type of pay-for-access type arrangement,” he said.
US Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, said “it’s an evil plan to profit from the presidency and enrich Wall Street while doing nothing to help Americans.”
While the White House has said Trump’s business is managed by his children, the president is the beneficiary of the income flowing into his trust.
Shares of TMTG, which have lost about 27% of their value this year, closed at about $9.66 on Friday, giving the company a market value of about $2.7 billion. – Rappler.com
