3 sources·Started 8d ago·Updated 5d ago

Trump Media sells early access to Truth Social posts for up to $100,000 a month

Donald TrumpTruth SocialTrump Media & Technology GroupKevin McGurnMark WarnerTrade GroupsWall StreetSTOCK Act

Sources

3outlets

LACNTH

Coverage

4articles

Trump Media & Technology Group (TMTG) is offering Wall Street traders early, machine-readable access to President Donald Trump's Truth Social posts for up to $100,000 a month Source: latimes, thenextweb. The service, branded Truth API, targets hedge funds and algorithmic traders with a feed that delivers posts milliseconds faster than public notifications Source: thenextweb. TMTG says it aims to generate a "recurring revenue stream" and has already signed customers Source: latimes.

Legal and ethical questions

Legal experts are split. Benjamin Schiffrin of Better Markets said the scheme is "probably not" insider trading under current laws Source: latimes, while ethics lawyers like Kathleen Clark called it "brazen corruption" Source: thenextweb. Senator Mark Warner urged Wall Street to reject the product, calling it a "very troubling form of information asymmetry" Source: cna. The STOCK Act and conflict-of-interest rules may not apply because Trump is exempt from criminal conflict statutes Source: thenextweb.

Wall Street reaction

Initial interest appears muted. Sources at two major banks said they were not considering subscribing, citing political risk Source: cna. However, TMTG has pitched a discounted three-year rate of $60,000 a month Source: cna. The feed covers posts from the 10 most influential accounts, but Trump’s are the primary focus .

Story timeline · 1 earlier headline

Senator urges Wall Street to reject Trump's paid early-access post feed6d ago · 4 sources
Trump Media sells early access to Truth Social posts for up to $100,000 a monthcurrent

Sources

5 quotes

latimes↗

“This is probably not something that was ever contemplated by the insider trading laws, the STOCK Act, or the general rules about government employees and their use of government information for personal profit. — Benjamin Schiffrin, Better Markets”

cna↗

“I urge you to make clear that the financial services industry will not legitimize an arrangement that sells privileged access to market-moving presidential communications, especially for the president’s personal financial benefit.”

thenextweb↗

“Ethics lawyers were quick off the mark. Dan Greenberg of the Cato Institute warned that monetising exclusive access to market-moving statements would “open the door to insider trading,” while Kathleen Clark of Washington University School of Law called it “brazen corruption.””

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Source: latimes

What's next

The service is set to launch August 1. TMTG’s stock has fallen sharply in the past year, making this new revenue stream critical for the company Source: thenextweb. Critics argue it monetizes government information for personal profit, while TMTG insists it merely accelerates what traders already monitor manually.

cna↗

“One source at a large bank said the institution was not considering acquiring the API, and if it did, a review of political risk would be needed.”

latimes↗

“Markets already move on Truth Social posts, said Kevin McGurn, Interim Chief Executive Officer of TMTG, in the firm’s July 16 announcement of the service.”