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Donald Trump’s social media company has floated the idea of charging Wall Street traders and investment firms up to $100,000 per month for faster access to his posts on Truth Social, according to sources familiar with the discussions. Recently, the company also proposed a discounted rate of $60,000 monthly for those who commit to a three-year subscription, although specifics remain confidential.
On Thursday, Trump Media and Technology Group (TMTG)—the owner of Truth Social—introduced a paid API service called “Truth API,” which offers banks and trading firms the quickest access to posts from the platform’s 10 most influential accounts. Details about pricing have not been disclosed. This marks TMTG’s first foray into data licensing, creating a new revenue stream but also drawing criticism from Democrats.
Oregon Senator Ron Wyden, the top Democrat on the Senate Finance Committee, argued that this move benefits the Trump family financially and could make Wall Street traders wealthy. The White House has referred inquiries about Wyden’s comments to TMTG, which has yet to respond.
Since Trump’s posts can significantly influence markets, many financial firms—especially high-frequency trading operations—depend on rapid access to social media updates. For example, on April 9, 2025, major stock indexes surged after Trump announced in a Truth Social post that he would suspend some tariffs for 90 days. Access to the Truth API could give these firms a critical milliseconds-long advantage, potentially yielding hundreds of thousands of dollars in gains on significant trades.
The Financial Times reported earlier this week that discussions for the $100,000 monthly fee are underway. Meanwhile, TMTG’s new product aims to deliver continuous coverage of important posts, including an archive dating back to 2022. The company claims it has already secured some clients ahead of its August 1 launch, though client identities remain undisclosed.
Among the most-followed accounts on Truth Social are Trump’s own, along with close allies like his sons Donald Trump Jr. and Eric Trump, as well as prominent supporters such as Dan Bongino and Sean Hannity.
Regulatory filings reveal that the Donald J Trump Revocable Trust controls approximately 114.75 million TMTG shares—around 41% of the company—overseeing Trump’s investments. Critics have questioned whether Trump and his family have been seeking to profit from policies announced during his presidency. In recent financial disclosures, Trump reported earning over $1.4 billion from his family’s crypto ventures last year, partially benefiting from policies he promoted.
Opponents argue that the Truth API’s structure would be “wildly unethical,” suggesting it could profit Trump by providing preferential access to his posts. However, the legality remains uncertain due to a lack of clear-cut regulations. Experts point out that constitutional clauses against emoluments wouldn’t prohibit this, as they mainly target foreign gifts and state-sponsored benefits—not payments for prioritized social media data access.
Additionally, traditional securities laws prohibit trading based on material, non-public information, but the current setup—where many users could see Trump’s posts early—may circumvent that restriction. Justice Department officials and regulatory agencies hadn’t anticipated such a scheme, and many see it as a potential avenue for improper influence and profit.
Democrat Senator Elizabeth Warren criticized the plan as an “egregious scheme to profit off the presidency and enrich Wall Street while doing nothing to help Americans.” While the White House emphasizes that Trump’s business interests are managed by his children, Trump himself benefits financially through his trust.
TMTG’s shares, which have decreased about 27% this year, ended trading flat at $9.66 on Friday, valuing the company at roughly $2.7 billion.
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