Trump Media & Technology Group has discussed charging Wall Street traders and investment firms as much as $100,000 a month for faster access to posts on Truth Social, according to people familiar with the matter. The company has also pitched a discounted plan of $60,000 a month for firms that sign up for 3-year subscriptions. The discussions center on a paid licensed data feed called Truth API, designed to deliver posts from 10 influential Truth Social accounts faster than regular push notifications, with a planned August 1 launch. The product marks Trump Media's first major move into data licensing, where speed carries high value for trading firms responding to market-moving posts from President Donald Trump. The proposal has drawn criticism from Democrats and ethics groups because Trump remains financially tied to Trump Media through a trust holding approximately 114.75 million shares, representing about 41% of the company's outstanding stock.
Truth API Delivers Faster Access to 10 Influential Accounts
Truth API is expected to provide round-the-clock coverage of influential posts and an archive dating back to 2022. The company has said it has already signed customers before the planned August 1 launch, but it has not identified them or disclosed pricing publicly. The feed is expected to cover 10 influential accounts, with some of the most-followed accounts on Truth Social belonging to Trump and people closely aligned with him, including Donald Trump Jr., Eric Trump, Dan Bongino, and Sean Hannity.
In high-frequency trading, a small timing advantage can be meaningful. A lead of only a few milliseconds may affect execution quality when large orders move across equities, rates, currencies, or other macro-sensitive markets. The product's value depends on whether traders can receive, parse, and act on market-moving posts before others relying on standard alerts or public interfaces.
April 9, 2025 Tariff Post Moved Markets Sharply Higher
On April 9, 2025, Wall Street's main indexes moved sharply higher after Trump said in a Truth Social post that he would pause many of his new tariffs for 90 days. That type of market reaction explains why faster access to posts could be valuable to high-frequency trading firms, hedge funds, and financial services companies that depend on rapid execution. Posts from President Donald Trump have repeatedly affected asset prices, especially when they involve tariffs, trade, sanctions, or other policy-sensitive announcements.
Democrats and Ethics Groups Criticize Presidential Conflict of Interest
U.S. Senator Ron Wyden, the highest-ranking Democrat on the Senate Finance Committee, said the product would financially benefit the Trump family and "make Wall Street traders rich." U.S. Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, called it "an egregious scheme to profit off the presidency and enrich Wall Street while doing nothing to help Americans."
Donald Sherman, president of Citizens for Responsibility and Ethics in Washington, said the Truth API arrangement would be "wildly unethical" because the president stands to benefit from payments for faster access to his posts. He said it is difficult to determine from publicly available information whether the arrangement is illegal. Sherman and other experts have noted that the Constitution's emoluments clauses likely would not apply because they focus on gifts from foreign governments or states. Federal securities rules broadly restrict trading on material non-public information, but Sherman said those rules may not apply if hundreds or thousands of paying customers receive earlier access through the product.
Sherman said, "I don't think Congress or any regulatory body ever contemplated that a president or a market-mover would engage in this kind of paying-for-access type arrangement."
Trump Media Stock Closed at $9.66 with 27% Year-to-Date Decline
The company's stock remains under pressure. Shares closed roughly flat at $9.66 on Friday, giving Trump Media a market value of about $2.7 billion. The stock has fallen about 27% this year, leaving investors focused on whether new products can produce durable revenue beyond the Truth Social platform itself. The Donald J. Trump Revocable Trust holds about 114.75 million TMTG shares, representing roughly 41% of the company's outstanding stock, according to regulatory filings. The trust is overseen by Trump's children and administers his investments.
For Trump Media shareholders, Truth API could be important because the company has struggled to build a large media business against bigger social platforms. A high-priced data product aimed at banks and trading firms could create a recurring revenue stream with much higher pricing power than consumer subscriptions or advertising. The commercial opportunity is tied to the same factor creating political and legal scrutiny: Trump's posts can move markets.
FAQ
What is Trump Media charging for faster Truth Social access?
Trump Media & Technology Group has discussed charging Wall Street traders and investment firms as much as $100,000 a month for faster access to posts on Truth Social through a product called Truth API. The company has also pitched a discounted plan of $60,000 a month for firms that sign up for 3-year subscriptions.
Why did Wall Street indexes move higher on April 9, 2025?
Wall Street's main indexes moved sharply higher on April 9, 2025, after Trump said in a Truth Social post that he would pause many of his new tariffs for 90 days. That type of market reaction demonstrates why faster access to posts could be valuable to trading firms that depend on rapid execution.
How much of Trump Media does President Trump own?
The Donald J. Trump Revocable Trust holds about 114.75 million TMTG shares, representing roughly 41% of the company's outstanding stock, according to regulatory filings. The trust is overseen by Trump's children and administers his investments.
