Trump Media pitched $100,000/month fee for fastest feed of Trump posts

Key Points:

• Donald Trump's social media company, Trump Media & Technology Group (TMTG), is considering charging Wall Street firms up to $100,000 per month for faster access to Trump's posts on its Truth Social platform through a new paid data feed called "Truth API."
• The Truth API offers real-time access to posts from the 10 most influential Truth Social accounts, including Trump and his close associates, which could provide high-frequency trading firms a critical speed advantage in executing trades.
• The proposed subscription fees have drawn criticism from Democrats, including Senators Ron Wyden and Elizabeth Warren, who argue the arrangement could enrich Trump and Wall Street traders while raising ethical concerns about profiting from the presidency.
• Legal experts note that while the arrangement may be ethically questionable, it may not violate emoluments clauses or insider trading laws, as the information would be available to multiple subscribers simultaneously.
• TMTG aims to launch the Truth API on August 1, having already signed customers, as it seeks new revenue streams amid challenges competing with larger social media firms; the company’s shares have declined about 27% this year, valuing it at approximately $2.7 billion.