President Donald Trump’s media company has launched a paid subscription service on Truth Social called Apnews, offering users access to posts from the website’s most prominent accounts milliseconds before they appear to the general public. Trump Media & Technology Group announced the data feed, which is designed for banks, institutional investors, and high-frequency trading firms that buy and sell stocks in fractions of a second.
Truth Social Launches High-Speed Data Feed for Wall Street Traders
While the company’s announcement does not specifically mention the U.S. president’s account, his is the most popular on the site, with more than 13 million followers. The platform also includes posts from other high-ranking contributors, potentially including his heavily followed sons, Donald Jr. and Eric, according to The Independent. The service reportedly costs up to $100,000 per month, with a lower-priced $60,000 option also available, according to BBC News.
Market-Moving Potential and High-Frequency Trading
The service targets firms that can capitalize on minute, fleeting price differences through rapid buying and selling. President Trump frequently uses Truth Social to make major announcements on foreign policy, international trade, tariffs, central bank leadership, and economic issues, with many of his posts triggering immediate reactions in financial markets. Recent examples cited by Apnews include statements threatening higher tariffs on Canada, canceling a nuclear deal with Saudi Arabia, and addressing the conflict in Iran.
Markets already move on Truth Social posts,
Kevin McGurn, interim chief executive officer at Trump Media & Technology Group, said in a statement reported by Cbsnews. McGurn noted that the data feed delivers continuous 24/7 coverage with an archive dating back to 2022 and provides a meaningful, ongoing source of revenue for the company.
Ethical Concerns and Regulatory Scrutiny
The launch has sparked intense debate over ethical boundaries and fair market practices. Critics argue that selling privileged early access to statements from a sitting president creates an uneven playing field for investors.
- Democratic Senators Elizabeth Warren and Adam Schiff wrote a letter to the U.S. Securities and Exchange Commission demanding an investigation, describing the offering as a “blatant abuse of power,” as reported by i24news.
- Irene Aldridge, head of Able Alpha Trading, stated that her firm has no plans to subscribe, remarking that if this involved the CEO of a public company, it would mean jail time.
- Dylan Hedler-Gaudette, a federal ethics rule expert at the watchdog Project on Government Oversight, noted that Wall Street would benefit from knowing which specific companies the president praises ahead of others.
Trump Media Defense
Trump Media & Technology Group has pushed back against the criticism, issuing a statement defending the service and blasting Democratic critics for mischaracterizing the offering out of ideological opposition to free markets or a failure to distinguish between public and nonpublic information. A spokeswoman for the company stated that Truth API gives customers faster access to public information and asserted that critics and law professors have invented new theories of insider trading to attack the president, according to NPR.
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