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Truth Social Legalizes Insider Trading
The Bulwark • • business
Key Points:
- Trump Media & Technology Group, the parent company of Truth Social, is reportedly planning to launch a new product called Truth API that offers subscribers faster access to posts before they appear in the public feed.
- The subscription for Truth API is reported to cost $100,000 per month, with a discounted rate of $60,000 per month for a three-year commitment, although the company has not publicly confirmed these prices.
- This feature is seen as a novel form of insider trading, potentially allowing subscribers to exploit early information for market manipulation, likening Trump’s Truth Social account to a Bloomberg terminal used for financial trading.
- The development highlights vulnerabilities in the intersection of social media, market manipulation, and flash trading, revealing new risks within the American economic and social systems.
- The story also suggests political implications, hinting that Donald Trump Jr. may have presidential ambitions influenced by these strategic moves.
