Trump Media & Technology Group has rolled out a high-speed data feed called the Truth API, selling early access to posts on the Truth Social platform to Wall Street trading firms. The service delivers posts from selected high-profile accounts, including President Donald Trump, to subscribers within milliseconds. Subscriptions are priced between $60,000 and $100,000 per month. Trump Media Interim Chief Executive Kevin McGurn announced that more than ten customer agreements have already been signed for the service.
Trump Media Launches High-Speed Truth API Feed for Wall Street Traders
The platform is owned by Trump Media & Technology Group, and President Donald Trump is the controlling shareholder in the company through a trust. Market participants note that a single social media post from the president regarding tariffs, military action, energy policy, sanctions, or conflict in the Middle East can cause stocks, bonds, currencies, and commodities to surge or plunge within seconds. High-frequency trading firms utilize algorithms to buy and sell shares in fractions of a second, making speed critical for capitalizing on market-moving statements.
Financial Pressures and Second-Quarter Earnings
The introduction of the Truth API coincides with broader financial shifts at Trump Media. During the second quarter, the company reported a loss of $238 million as it branched into new ventures such as cryptocurrency. Trump Media posted $1.7 million in revenue for the quarter, which is more than double from a year earlier. Interim CEO Kevin McGurn stated on an earnings conference call that after a yearlong effort to expand into online betting and crypto, the company would refocus on social media and its most important initiatives.
Despite this pivot toward social media, Trump Media intends to continue with a previously announced venture involving nuclear fusion, aiming to close a merger with energy company TAE Technologies by the end of the year. Financially, the company holds $1 billion in debt from special convertible notes that mature in 2028, though lenders hold an option to demand cash-out in November. At the end of the quarter, Trump Media reported having more than $400 million in cash and short-term investments alongside $1.2 billion in bitcoin and bitcoin-related assets. Since Trump returned to office, shares in the parent company have fallen by 75 percent, and the business has lost more than $1 billion over the past two years.
Ethical Concerns and Criticisms From Watchdogs
The Truth API service has drawn sharp criticism from congressional Democrats, government watchdogs, and finance experts who argue that it creates conflicts of interest and rewards self-enrichment. Democratic lawmakers voiced strong condemnation, with Sen. Adam Schiff posting on social media that the offering is a scheme to save a failing business, and Sen. Richard Blumenthal describing it as flagrant corruption, trading access to the White House for Trump’s self-enrichment.
Kathleen Clark of Washington University School of Law told the Associated Press that the arrangement represents an improper exploitation of government power.
Legal and ethical questions persist regarding the mechanics of the data feed. Finance researcher Dewan Rahman from the University of Queensland’s Business School noted that legality depends on whether the service delivers posts to paying customers faster after publication or provides nonpublic advance warnings. Industry critics point out that the critical factor is when the information is received rather than when it is officially released. Trump Media has defended the venture, dismissing critics for mischaracterizing the service and arguing that providing licensed real-time public data through commercial APIs is a standard business practice across technology, financial information, and media industries.
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