Trump faces ethics storm for ‘pimping’ fast access to his Truth Social posts
US President Donald Trump knows the world hangs on his every word. Now he wants you to pay for it. The social media posts of the world’s most powerful man went on sale on Saturday, when his Truth Social business began offering sneak peeks of them to Wall Street traders willing to pay up. The move raises the prospect of big profits for Trump’s company and big questions about insider trading and…
Donald Trump's Truth Social social media platform is selling sneak peeks of his own posts to Wall Street traders for a fee. This move raises concerns about insider trading and the use of public office for private gain. The service, called Truth API, allows high-frequency traders to profit from market-moving information before it becomes public knowledge.
The White House has not commented on the propriety of the service, but Truth Social's parent company has defended it against Democratic critics. Critics argue that the service gives an unfair advantage to traders and puts retail investors at a disadvantage. High-frequency traders estimate around 100 firms might be willing to pay for the service, which comes as these firms are investing more in feeds and servers for direct access to news and data sources.
The service will include posts from other high-ranking Truth Social contributors, such as Trump's two oldest sons. Some experts suggest that the service could lead to investigations if Democrats take control of Congress and launch an inquiry.
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