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Truth Social launches service selling faster access to Trump posts
NBC News • • business
Key Points:
- Wall Street firms can now subscribe to Truth Social's new "Truth API" service, gaining early access to President Donald Trump's social media posts before they are available to the general public, potentially benefiting high-frequency trading.
- The service offers a real-time, licensed data feed of Trump's "most market-moving" posts, which he uses to announce significant policy changes and military operations, diverging from traditional presidential communication channels.
- Trump Media and Technology Group (TMTG), largely owned by Trump himself, launched the service to monetize the platform's proprietary content, with Trump potentially profiting from the subscriptions.
- Senators Elizabeth Warren and Adam Schiff have called for an SEC investigation, alleging that selling faster access to Trump's posts may constitute an abuse of office and could undermine market integrity and everyday investors.
- Truth Social was created by Trump in 2022 after his bans from major social media platforms, aiming to provide him with a direct communication channel and now serves as a tool influencing financial markets.
