Wall Street finds new edge behind Trump's presidential paywall
Data: Financial Modeling Prep, Binance; Chart: Erin Davis/Axios Visuals For years, Truth Social was President Trump's money-losing megaphone. Now his company is charging Wall Street up to $1.2 million a year for a split-second edge on posts that can — and frequently do — jolt global markets. Why it matters: Trump has transformed his second term into the most lucrative venture of his entire…
The Trump family's media and technology firm, Trump Media & Technology Group (TMTG), has begun charging Wall Street firms up to $1.2 million annually for a subscription that provides real-time access to President Trump's posts on his Truth Social platform. This new service, known as Truth API, enables high-frequency trading algorithms to capitalize on market-moving information with split-second timing.
Since its launch on August 1, at least five clients have signed up for the service. TMTG is a publicly traded company, with President Trump as its dominant shareholder. Despite generating minimal revenue and a recent share price increase, the company's stock value has already risen significantly following the API announcement. The Trump administration has been under scrutiny for potential conflicts of interest due to the arrangement, with congressional Democrats investigating the matter and introducing legislation to ban such practices.
The Trump Media company maintains that the posts are already public when they reach the API, emphasizing the value they provide by reducing the latency gap between publication and public awareness.
Written by urgent.news from Axios's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
