In what some critics describe as a brazen pitch from Trump Media & Technology Group, the president’s company is launching a paid service beginning August 1 that will give Wall Street firms high-speed access to influential posts on its Truth Social platform.
It has not yet been determined whether the paid service will include posts from President Trump himself.
Trump Media hopes the product will create a new revenue stream for the company, which is currently operating at a net loss.
The likely market is financial traders seeking faster access to potentially market-moving information. Trump’s social media posts, particularly those involving trade and tariffs, have at times contributed to sharp market moves, and for some firms even a delay of a few seconds can matter.
“Markets already move on Truth Social posts,” said Kevin McGurn, interim CEO of Trump Media.
McGurn said the service is intended to create a recurring revenue stream and will operate 24 hours a day, seven days a week.
Some critics, however, have raised concerns about a company financially connected to the president selling faster access to communications that could affect financial markets.
Sen. Mark Warner, the top Democrat on the Senate Intelligence Committee, urged leaders of major financial-industry trade groups to reject the arrangement, arguing that it could allow Trump to benefit financially from access to market-moving communications.
Warner warned that the service could create what he called a “very troubling form of information asymmetry.”
Wall Street firms have so far appeared cautious about the offer.
One source at a large bank said the institution would not be purchasing access to the API and that, if it ever considered doing so, the arrangement would require a political-risk review. Speaking on condition of anonymity, the source said paying for faster access to a president’s social media posts would present different concerns than purchasing expedited access to conventional market or trading data because the posts could contain information about government policy.
Warner sent a letter to the heads of six major financial trade groups urging them to reject the arrangement.
“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,” Warner wrote.
The product, called Truth API, will deliver posts from 10 influential accounts to paying customers significantly faster than standard Truth Social notifications.
Technology platforms generally can charge customers for faster access to data feeds. However, some ethics experts argue that the circumstances surrounding Truth API are unusual because presidential posts can contain information about government policy.
Some reports have said Trump Media discussed charging Wall Street investment firms as much as $100,000 per month for access. The company has also reportedly offered a discounted rate of $60,000 per month to firms willing to sign three-year agreements.
Trump Media, which launched Truth Social in 2022, has said some firms have been collecting data from the platform for months without authorization.
McGurn said the company plans to block those methods, potentially forcing firms that want high-speed access to purchase the official data feed.
The Donald J. Trump Revocable Trust holds roughly 114.75 million shares of Trump Media & Technology Group, representing about 41% of the company’s outstanding stock. The trust holds Trump’s interest in the company and is overseen by his children.
“As adoption grows,” McGurn said, “we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders.”
