Truth Social is selling faster access to President Trump’s posts
Five high-frequency trading firms—investors that depend making lightning-fast moves—have already signed onto the service.
• less than 3 min read
Truth Social is selling posts at a premium, and Wall Street is buying. Trump Media & Technology Group (TMTG), the parent company of Truth Social, announced last week that it was rolling out a paid “Truth API” feed with real-time posts from 10 of the biggest political accounts on the platform, including President Trump. The feed gives traders early access to the president’s market-moving posts, giving them a leg up on markets.
Five high-frequency trading firms—investors that depend on making lightning-fast moves—have already signed onto the service, which launches Aug. 1:
- It costs $100,000 a month, or $60,000 if a firm makes a three-year commitment, according to Reuters.
- Investors already rely heavily on Trump’s posts for trades.
- Last month, in the first minute after two of his posts about Iran, more than 2 million shares related to energy and industrial markets were traded.
Not so fast: Lawmakers on both sides of the aisle are questioning the move, with one asking the SEC to investigate. Critics warn that giving Wall Street access to these highly influential posts even nanoseconds before the public provides wealthy firms with a huge edge and creates a clear risk for market integrity. President Trump controls about 41% of TMTG’s outstanding stock through a revocable trust.—MM
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