Trump Media & Technology Group (TMTG), the company behind Truth Social, has reportedly discussed charging Wall Street traders and investment firms up to $100,000 per month for faster access to US President Donald Trump’s social media posts.
According to Reuters, the company also offered a discounted subscription of $60,000 per month for firms willing to commit to a three-year agreement. The discussions were described by people familiar with the matter, who requested anonymity because they were not authorised to speak publicly.
TMTG has not publicly confirmed the reported pricing.
Truth API aims to serve financial firms
On Thursday, TMTG officially introduced Truth API, a licensed data service designed to provide banks, hedge funds and trading firms with the fastest possible access to posts from the platform’s 10 most influential accounts.
The company said the service will include real-time updates and an archive of posts dating back to 2022. It also stated that customers had already signed up ahead of the service’s planned launch on August 1, although it did not identify them.
The launch marks Trump Media’s first major move into the commercial data licensing business, creating a potential new source of revenue beyond its social media platform.
Democrats raise ethical concerns
The reported subscription model drew criticism from Democratic lawmakers, who argued that it could financially benefit President Trump and his family.
Senator Ron Wyden, the senior Democrat on the Senate Finance Committee, said the arrangement would enrich both the Trump family and Wall Street traders.
Senator Elizabeth Warren also criticised the reported plan, describing it as an inappropriate attempt to profit from the presidency.
The White House referred questions about the criticism to TMTG, which did not immediately respond to Reuters’ request for comment.
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Market-moving posts at the centre of debate
President Trump’s posts on Truth Social have frequently influenced financial markets.
Reuters noted that on April 9, 2025, US stock markets rallied sharply after Trump announced on Truth Social that many newly introduced tariffs would be paused for 90 days.
Because high-frequency trading firms rely on receiving market-moving information milliseconds before competitors, faster access to presidential posts could provide a significant trading advantage.
Industry experts say even tiny speed differences can translate into substantial profits when executing large financial transactions.
Legal experts question the arrangement
Ethics experts say the reported proposal raises important questions, although whether it violates US law remains unclear.
Donald Sherman, president of the nonpartisan watchdog group Citizens for Responsibility and Ethics in Washington (CREW), described the arrangement as “wildly unethical” because the president could indirectly benefit from payments tied to his public communications.
However, he noted that existing constitutional provisions and insider trading laws may not clearly apply if access to the information is sold broadly rather than provided privately.
Trump Media has faced increasing competition in the social media market, and the launch of Truth API represents an effort to diversify its business. As of Friday, the company’s shares closed nearly unchanged at $9.66, giving it a market value of approximately $2.7 billion.
