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Truth Social, the social‑media platform founded by former U.S. President Donald Trump, has reportedly begun offering an API service that provides subscribers with instant, direct access to Trump’s posts before they appear publicly. According to sources close to the matter, the service is available to Bloomberg, Susquehanna International Group, and Jump Trading, and could cost up to $100,000 per month. The API, which delivers data with a 50‑millisecond latency advantage, is intended to give subscribers a “timing edge” on market movements. Trump’s posts can trigger rapid price swings in currencies, stocks, and commodities, and the sub‑second advantage could benefit high‑frequency trading firms that rely on automated algorithms to scan news headlines and execute trades within milliseconds. The Trump Media & Technology Group (TMTG) announced in July that it would launch a premium data product aimed at commercial firms and financial institutions. This is reportedly the first time a company linked to a sitting U.S. president has offered paid access to the president’s statements, raising ethical concerns. The Intercept Media and the Freedom of the Press Foundation filed a lawsuit in August seeking to prevent the White House from exclusively posting official government announcements on Truth Social while the paid feed operates. The plaintiffs argue that the financial barrier violates the First Amendment’s guarantee of equal access to information and the Fifth Amendment’s protection against unfair advantage. Bloomberg, Jump Trading, and Susquehanna have declined to comment. Reuters, a competitor of Bloomberg, said it would evaluate the service but has no plans to subscribe. TMTG issued a statement saying the API is “industry‑standard” and that the allegations are based on “misleading information” intended to harm the company, its clients, and shareholders. The company also noted that congressional Democrats continue to misunderstand the API’s operation. High‑frequency traders use specialized software to scan news feeds for market‑moving keywords, analyze text in milliseconds, and execute trades automatically. In April, oil futures fell sharply after Trump announced a cease‑fire on Truth Social regarding the Iran conflict. In August, TMTG told investors that it had secured more than ten client contracts, though independent sources could not confirm the numbers. The company disclosed that its clients are primarily Wall Street firms paying between $60,000 and $100,000 per month for the instant data feed. The practice has drawn criticism from Democrats. Senators Elizabeth Warren and Adam Schiff urged the U.S. Securities and Exchange Commission (SEC) in July to investigate whether the service violates federal securities laws, describing it as a “shocking abuse of office” for personal gain. The SEC has not commented. Trump’s family wealth‑management foundation, which holds 41% of TMTG shares, is controlled by Donald Trump Jr., who has exclusive voting and investment authority. The foundation’s holdings are not publicly disclosed. TMTG’s stock has been highly volatile since its March 2024 debut, falling from an initial market value of about $8 billion to roughly $1.8 billion today. The company has recorded approximately $1.76 billion in losses for the year, including non‑cash items. White House spokesperson Davis Ingle said that neither President Trump nor his family participate directly in portfolio investment decisions. In response to questions about the lawsuits and ethical concerns, Ingle stated that President Trump acts solely in the national interest. Article source: Magyar Hirlap | Image credit: Magyar Hirlap
Truth Social, the social‑media platform founded by former U.S. President Donald Trump, has reportedly begun offering an API service that provides subscribers with instant, direct access to Trump’s posts before they appear publicly. According to sources close to the matter, the service is available to Bloomberg, Susquehanna International Group, and Jump Trading, and could cost up to $100,000 per month. The API, which delivers data with a 50‑millisecond latency advantage, is intended to give subscribers a “timing edge” on market movements. Trump’s posts can trigger rapid price swings in currencies, stocks, and commodities, and the sub‑second advantage could benefit high‑frequency trading firms that rely on automated algorithms to scan news headlines and execute trades within milliseconds. The Trump Media & Technology Group (TMTG) announced in July that it would launch a premium data product aimed at commercial firms and financial institutions. This is reportedly the first time a company linked to a sitting U.S. president has offered paid access to the president’s statements, raising ethical concerns. The Intercept Media and the Freedom of the Press Foundation filed a lawsuit in August seeking to prevent the White House from exclusively posting official government announcements on Truth Social while the paid feed operates. The plaintiffs argue that the financial barrier violates the First Amendment’s guarantee of equal access to information and the Fifth Amendment’s protection against unfair advantage. Bloomberg, Jump Trading, and Susquehanna have declined to comment. Reuters, a competitor of Bloomberg, said it would evaluate the service but has no plans to subscribe. TMTG issued a statement saying the API is “industry‑standard” and that the allegations are based on “misleading information” intended to harm the company, its clients, and shareholders. The company also noted that congressional Democrats continue to misunderstand the API’s operation. High‑frequency traders use specialized software to scan news feeds for market‑moving keywords, analyze text in milliseconds, and execute trades automatically. In April, oil futures fell sharply after Trump announced a cease‑fire on Truth Social regarding the Iran conflict. In August, TMTG told investors that it had secured more than ten client contracts, though independent sources could not confirm the numbers. The company disclosed that its clients are primarily Wall Street firms paying between $60,000 and $100,000 per month for the instant data feed. The practice has drawn criticism from Democrats. Senators Elizabeth Warren and Adam Schiff urged the U.S. Securities and Exchange Commission (SEC) in July to investigate whether the service violates federal securities laws, describing it as a “shocking abuse of office” for personal gain. The SEC has not commented. Trump’s family wealth‑management foundation, which holds 41% of TMTG shares, is controlled by Donald Trump Jr., who has exclusive voting and investment authority. The foundation’s holdings are not publicly disclosed. TMTG’s stock has been highly volatile since its March 2024 debut, falling from an initial market value of about $8 billion to roughly $1.8 billion today. The company has recorded approximately $1.76 billion in losses for the year, including non‑cash items. White House spokesperson Davis Ingle said that neither President Trump nor his family participate directly in portfolio investment decisions. In response to questions about the lawsuits and ethical concerns, Ingle stated that President Trump acts solely in the national interest.
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