Trump Media Launches Paid Truth Social Data Feed for Wall Street Firms
The new subscription service offers real-time access to Truth Social posts and has prompted calls for a regulatory review in the United States.
By BBC News
Trump Media & Technology Group has launched a paid data service giving financial firms faster access to posts published on Truth Social, including messages from US President Donald Trump.
The service, known as Truth API, provides licensed subscribers with real-time access to content from selected high-profile accounts on the social media platform. The company says it is designed for financial institutions and other organisations that rely on rapid access to market-moving information.
According to Trump Media, the service is aimed primarily at high-frequency and algorithmic trading firms that use automated systems to analyse news and social media activity before making investment decisions. Reports suggest the company has discussed charging up to 100,000 US dollars per month for access, although pricing may vary depending on the agreement.
The launch has attracted political attention in the United States. Democratic senators Elizabeth Warren and Adam Schiff have written to Securities and Exchange Commission chair Paul Atkins requesting that regulators examine whether the service could create an unfair advantage for some investors or raise concerns under US securities laws.
The senators said providing paying customers with the fastest possible access to statements from a sitting president could influence financial markets and should be reviewed before the service becomes widely available.
Trump Media rejected those concerns, saying the platform simply provides licensed, real-time access to information that is already publicly available on Truth Social. The company said the service does not provide private or exclusive information and therefore does not amount to insider trading.
The launch reflects the growing commercial value of real-time digital information, with investment firms increasingly relying on automated technology to analyse breaking news, social media posts and public statements that have the potential to influence markets within seconds.
The US Securities and Exchange Commission has not indicated whether it will open a formal review of the service.