Truth Social, the social media platform owned by Trump Media & Technology Group (TMTG), will launch its Truth API on Aug. 1 to license real-time platform data to Wall Street firms, TMTG Chief Business Officer John McGurn tells Axios. The API provides access to posts from the platform's top 10 trending accounts, including President Trump's @realDonaldTrump and other administration officials. McGurn, a former executive at Shazam, Hulu, Vevo and T-Mobile, says TMTG has already signed several customers including financial news organizations and high-frequency trading firms ahead of the launch. The move addresses unauthorized data scraping that has violated Truth Social's terms of service for months, while creating a new revenue stream for TMTG as it expands beyond advertising into subscriptions, streaming, financial services and bitcoin.
Truth API Provides Real-Time Access to Top 10 Accounts
The Truth API grants real-time access to posts from Truth Social's top 10 trending accounts at launch. The accounts include decision makers who impact policy and geopolitical outcomes, such as President Trump (@realDonaldTrump), the White House (@WhiteHouse), FBI Director Kash Patel (@Kash), White House deputy chief of staff Dan Scavino (@DanScavino) and Health and Human Services Secretary Robert F. Kennedy Jr. (@seckennedy). McGurn says the API can be expanded to more accounts in the future for customers willing to pay more.
TMTG Signs Financial News Organizations and Trading Firms
Trump Media has already signed several customers ahead of the Aug. 1 launch, including financial news organizations and high-frequency trading firms, McGurn tells Axios. He did not identify specific customers. McGurn argues the licensed API will be significantly faster than scraping methods currently used by firms.
Truth Social Targets Unauthorized Data Scraping
McGurn says firms have been scraping Truth Social data for months, often in violation of its terms of service, and repackaging it for institutional clients. "We're going to create a lot of friction for those folks that aren't coming to us directly," McGurn says. The licensed API aims to replace unauthorized scraping with an official, faster data access method.
TMTG Expands Beyond Advertising Revenue Model
TMTG went public in 2024 through its merger with a blank-check company. The firm originally focused on monetizing the Truth Social platform with ads. It has since expanded into subscriptions and streaming through its Truth+ platform, as well as financial services and bitcoin. TMTG is now awaiting the close of its roughly $6 billion merger with fusion-energy company TAE Technologies as it looks to evolve into a broader holding company. McGurn says the company's portfolio of businesses are built around themes including free speech, decentralized finance and energy.
TMTG Reports $3.68 Million Revenue Against $712 Million Loss
Last year, TMTG made $3.68 million in revenue from advertising and subscriptions against its media business. The company had a net loss of $712 million, much of which came from accounting charges tied to its cryptocurrency investments. TMTG's business is tiny compared with most media companies, let alone Big Tech firms or investment conglomerates.
TMTG Discusses AI Training Data Licensing
Beyond Truth API, McGurn sees licensing as a key opportunity to grow TMTG's business. The company is also discussing licensing Truth Social data to AI companies for large language model training, McGurn says. Other social discourse companies, like X and Reddit, also license their platform data to enterprise clients. McGurn is bullish on licensing as a solid recurring revenue business, given that the markets already move on Truth Social posts. Last year, stocks soared in response to a Truth Social post from the president saying "THIS IS A GREAT TIME TO BUY!!!" Hours later, he announced on Truth Social a 90-day pause on most reciprocal tariffs, while raising tariffs on China.
FAQ
What does Truth Social's new API provide to Wall Street firms?
The Truth API provides real-time access to posts from Truth Social's top 10 trending accounts, including President Trump's @realDonaldTrump and other administration officials. TMTG launched the API on Aug. 1 with customers including financial news organizations and high-frequency trading firms.
How much revenue did TMTG generate last year?
Last year, TMTG made $3.68 million in revenue from advertising and subscriptions against its media business. The company had a net loss of $712 million, much of which came from accounting charges tied to its cryptocurrency investments.
