"Just by paying, you can get market information about Trump immediately." According to a report by the American consumer news and business channel (CNBC) on August 2, the Trump Media & Technology Group in the United States launched a paid data service on the 1st. This service allows subscribers to access faster updates on the posts made by U.S. President Trump on his own social platform, "Truth Social".
Trump Media & Technology Group's interim CEO Kevin McGeehan stated in a statement that this service, called “Truth API”, will provide businesses with “direct, authorized real-time information streams”, covering the “most market-influential posts” on the platform.
According to CNBC, although McGahn did not explicitly mention Trump’s name, Trump is clearly the most influential user on the ‘Truth Social’ platform. His ‘Truth Social’ account has over 13 million followers, and he often takes the lead in announcing important policy decisions on this platform, including the latest news regarding military conflicts between the United States and Iran.
US President Donald Trump IC Photo
The National Broadcasting Corporation (NBC) noted that Trump is keen to share updates on global affairs and economic policies on social media, which stands in stark contrast to previous U.S. presidents. In the past, U.S. presidents typically announced such updates through more formal channels, such as the White House press office and the White House website.
Many trading companies have already connected to “Truth Social” through their existing services, capturing posts posted by Trump and sending them to clients in real time. However, if trading companies directly use the data delivery services provided by “Truth Social,” they may gain access to Trump’s messages seconds or milliseconds before the general public does. For high-frequency trading companies, even a difference of just a few milliseconds can have a significant impact.
According to the American website 'Business Insider', Trump Media & Technology Group has not yet announced the specific fees for this new service. However, there were earlier reports indicating that the company is considering a fee of $100,000 per month, or a discounted option where the fee would be $60,000 per month for a three-year contract.
As a major shareholder of Trump Media & Technology Group, Trump will also profit from this service. According to financial information disclosed last year, Trump holds 114.75 million shares of the company, accounting for 41% of the total share capital.
This measure has already sparked criticism from critics. U.S. Democratic Senators Adam Schiff and Elizabeth Warren have written to the U.S. Securities and Exchange Commission, urging the agency to investigate whether these services violate U.S. law. In their letter, they criticized, "This is an abuse of presidential authority, used for personal gain, which damages market credibility and ordinary investors, while allowing Wall Street and other wealthy insiders to profit."
