The Dictatorship
Trump Media to sell Wall Street access to market-moving Truth Social posts
Trump Media & Technology Groupa company owned by President Donald Trump, is offering Wall Street firms access to a new speciality service that rapidly delivers and curates market-moving posts from the president’s preferred social media platform.
Truth Social, which launched in 2022, has become the platform where the president offers high-impact statements and announces major decisions. Among those statements, Trump has frequently unveiled changes to U.S. tariff policy; discussed meetings with world leaders, like Chinese President Xi Jinping and Russian President Vladimir Putin; and, in recent months, provided updates on the ongoing war with Iran.
The service, announced Thursday, has been dubbed “Truth API.” An API, or application programming interface, allows software applications to communicate with each other.
“Markets already move on Truth Social posts,” said Kevin McGurn, interim chief executive offer of TMTGin a statement. “As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders.”
Trump is the majority stakeholder of Trump Media, which positions him to profit from the company’s new revenue stream. The White House has said that while he is in office, Trump’s assets are held in a trust that is managed by his children.
While the company says the new service will include posts from high-ranking accounts, Truth Social is mostly an echo chamber for the president, his allies and his supporters. Aside from Trump’s own profile, other accounts rarely produce impactful news or information. That raises questions about whether the president will weigh how the service could benefit him financially when he posts on the platform.
The White House and TMTG did not respond to MS NOW’s requests for comment.
Wall Street investors already rely on other applications to provide real-time data and market-moving information to react quickly and integrate data from Truth Social and other social media platforms.
It’s unclear how Truth API will differ from existing services or how much the company plans to charge for the service. TMTG said it would rely on “industry-standard delivery methods” to deliver Truth Social posts to customers “in milliseconds.”
According to the company, clients have already signed up ahead of the service’s launch, which is slated for as soon as August. 1.
The stock market often reacts to Trump’s posts, even when the content later proves to be inaccurate, misleading or states something that ultimately does not come to fruition.
For example, Trump posted in April that Iran had agreed to “fully” reopen the Strait of Hormuz shortly before U.S. markets opened. Minutes later, he said a U.S. naval blockade would remain in place.
The president also vowed on the platform to increase tariffs on countries to 15% after a Supreme Court decision struck down his use of widespread tariffs. However, the tariff rate has remained at 10%, and it’s unclear if or when it might be raised.
Akayla Gardner is a White House correspondent for MS NOW.