Donald Trump’s social media company, Trump Media & Technology Group (TMTG), is proposing a new data service that would charge Wall Street investment firms up to $100,000 a month for faster access to the U.S. president’s posts.
The upcoming service, named "Truth API," aims to give banks and high-frequency trading firms a crucial millisecond speed advantage in accessing posts from Truth Social's ten most influential accounts. A discounted $60,000 monthly rate is also being offered for a three-year commitment. TMTG plans to launch the service on August 1.
Because Trump’s policy announcements on social media frequently shift financial markets—such as a 2025 post regarding paused tariffs—a fractional time advantage can yield substantial gains for trading firms.
However, the initiative has drawn severe backlash. Democratic lawmakers and government watchdog groups have criticized the move, arguing it allows the Trump family to personally profit from presidential announcements while enriching Wall Street insiders. TMTG is 41% owned by a trust that benefits Donald Trump.
While a nonpartisan ethics watchdog called the arrangement “wildly unethical,” legal experts note it likely circumvents current insider trading laws because the early information would be available to multiple paying subscribers rather than just one entity. Furthermore, anti-corruption emoluments clauses do not legally apply in this specific scenario.
The new data licensing venture marks TMTG's first major attempt to open a new revenue stream as the $2.7 billion company struggles to compete with larger social media platforms. The White House referred questions to TMTG, which has not commented on the matter.
