Truth Social has introduced an application programming interface, known as Truth API, designed to provide corporate subscribers with a licensed, real-time feed of the platform’s most market-moving content. Interim CEO Kevin McGurn announced the launch, noting that trading firms and other paying users can now access posts ahead of the general public for a fee reaching $100,000 per month. While the service mirrors data offerings on other social media platforms, its high price tag and the platform's unique ownership structure have drawn immediate scrutiny.
The primary user on Truth Social is Donald Trump, who also serves as the largest shareholder of the platform’s publicly traded parent company. Although the announcement did not specifically name him, his @realDonaldTrump account commands approximately 13 million followers and is frequently used to announce major policy shifts—such as decisions regarding tariffs or the Iran war—before they are communicated through traditional channels. Critics argue that allowing paid subscribers to gain early access to these posts could facilitate insider trading and market manipulation, potentially creating a direct financial benefit for the president.
The launch of the service prompted a swift response from Democratic lawmakers. In a letter dated Tuesday and sent to SEC chair Paul Atkins, senators Adam Schiff and Elizabeth Warren requested an investigation into whether the company’s new offering violates federal law. The lawmakers characterized the service as an "outrageous abuse of the President’s office for his personal benefit" that risks undermining market integrity while favoring wealthy insiders.
Financial performance remains a point of tension for the company. Trump Media’s stock has declined by more than 70% since the president took office last year, resulting in an estimated $6 billion loss in shareholder value. These losses, alongside billions in investor losses linked to new Trump family cryptocurrency ventures, have faced increased scrutiny following the president's annual financial disclosure, which showed he generated over $1 billion in revenue last year from these same companies and offerings. Despite these challenges, the company is seeking to diversify its revenue beyond advertising. Shares of Trump Media rose 5.5% to $10.39 on Friday, the day before the API service went live. The platform previously faced intense scrutiny last year when Trump published over 100 posts in a single day during a period of global market volatility, highlighting the significant influence his digital presence exerts on financial stability.
Trump Media’s stock has fallen by more than 70% since the president took office last year, wiping out roughly $6bn (£4.4bn) in shareholder value.
Those losses, combined with billions more in investor losses connected to new Trump family cryptocurrency ventures, have come under increased scrutiny after Trump’s annual financial disclosure showed he generated more than $1 billion in revenue last year from the same companies and offerings.
