By Rajwa Quasim
Trump Media & Technology Group (TMTG), the parent company of Truth Social, launched the Truth API (Application Programming Interface) on Aug. 1, giving Wall Street firms and institutional investors access to posts within milliseconds—significantly faster than the push notifications available to everyday users. The service provides rapid access to posts from high-profile and widely followed accounts, including President Donald Trump. The launch has sparked strong reactions from Wall Street traders, financial experts and market observers.
Institutional customers began accessing the Truth API service on Saturday. Trump Media has not disclosed the pricing, but according to people familiar with the matter, the company has discussed charging up to $100,000 per month, or $60,000 per month under a three-year subscription plan.
Kevin McGurn, interim CEO of TMTG, defended the move, saying, “Markets already move on Truth Social posts.” He said the new API simply delivers a direct, licensed feed of the platform’s market-moving posts and additionally, helps the company generate high margin while recurring revenue from its existing assets.
The counter argument is no less important. Sens. Elizabeth Warren, D-Mass., and Adam Schiff, D-Calif., have urged the U.S. Securities and Exchange Commission (SEC) to investigate whether Trump Media is violating the law by selling faster access to the president’s posts. The senators wrote that the subscription “appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders.”
READ: Trump Media launches Truth Social data service for businesses (July 16, 2026)
Vu Vuković, founding partner of hedge fund Oracle Capital, said his team would compare Trump’s Truth Social posts with market reactions to know how effective the launched API is. He took to X to share his opinion: “Spoiler: there aren’t…The tweets are complete noise. Even when you capture a few strong moves before they happen, you will lose so much on the rest of it that it’s not worth it. He simply tweets too much, and 90% of the time, the market doesn’t react at all. When it does, sometimes it’s even the opposite of what you might expect.”
The arrangement also raised questions given Trump’s own financial ties to the company. President Trump is a major stakeholder in TMTG, owning 114.75 million and representing 41% of the company, according to his 2025 financial disclosure.
A Trump supporter and partner at Sequoia Capital Shaun Maguire did not support the move, saying “Moves like this cheapen Trump’s policy wins (of which there have been many).”
Financial journalist and author James Surowiecki believes that Truth API violates insider trading laws.
He expressed his concern on X, saying “Trump is disclosing information (in this case, information about some of his future public statements as president, including statements about policy) that belongs to the U.S. government in exchange for money. That violates his duty of trust and confidence to his employer (the govt) and is illegal. And anyone who pays for the feed is knowingly paying for misappropriated information, which is illegal as well.”
Trump launched Truth Social in early 2022 after he was banned from X, formerly known as Twitter, and other social media platforms in 2021 following the attacks on the Capitol on Jan. 6. The platform reinstated Trump’s access to X in November 2022 shortly after Elon Musk took over the platform as CEO. Trump also regained access to Facebook and Instagram in January 2023.