Trump Media & Technology Group is launching a paid data feed called Truth API on August 1 that will give banks and trading firms faster access to posts from the platform’s most influential accounts, including President Trump’s, whose statements have historically moved global markets.
The service will cover 10 top Truth Social accounts and include an archive of posts dating back to 2022, delivered at significantly faster speeds than regular push notifications. According to Reuters, the highest-tier pricing reaches $100,000 per month, with the company already signing up customers ahead of the launch.
The product is designed for organizations “most impacted by the cost of a delay in information,” such as algorithmic trading firms, TMTG said. Kevin McGurn, the company’s interim CEO, told Axios that firms have been scraping Truth Social data for months in violation of its terms of service, and the licensed API will be “significantly faster than scraping.” He added: “We’re going to create a lot of friction for those folks that aren’t coming to us directly.”
Trump’s Truth Social posts have demonstrated their market-moving power repeatedly. In April 2025, Reuters reported that Wall Street’s main indexes turned sharply higher after Trump announced a 90-day pause on most reciprocal tariffs. Mark Spiegel, a portfolio manager at Stanphyl Capital Partners, told Reuters: “As far as I know, the only market-moving poster on Truth Social is Trump himself and his posts definitely move the market.”
This is TMTG’s first major step into data licensing, opening what McGurn described to Axios as a “new long-term recurring revenue stream” for the company. Other social media platforms, including X (formerly Twitter) and Reddit, already license their data to financial services firms and enterprise clients. Axios noted that McGurn is also discussing licensing Truth Social data to AI companies for large language model training.
The move raises questions about market fairness and information access. When asked whether Truth API would create uneven trading opportunities for wealthier traders, Spiegel told Reuters that “there were always uneven trading opportunities — this would be just one more.” However, Robert Frenchman, a partner at the Dynamis law firm who has defended clients in federal government trading probes, told Reuters that while “it certainly does not seem fair,” platforms are legally allowed to tier their information distribution without violating federal securities laws.
Senator Ron Wyden, the highest-ranking Democrat on the Senate Finance Committee, criticized the move, saying it would financially benefit the Trump family and “make Wall Street traders rich,” according to Reuters. The White House did not immediately respond to requests for comment on the criticism.
TMTG has faced challenges scaling its media business against larger competitors. Last year, according to Axios, the company made $3.68 million in revenue from advertising and subscriptions while posting a net loss of $712 million, much of which came from accounting charges tied to cryptocurrency investments. The Truth API represents a potential way to diversify revenue beyond traditional advertising and subscriptions. The company is also awaiting the close of its roughly $6 billion merger with fusion-energy company TAE Technologies as it looks to evolve into a broader holding company.
The API’s launch reflects growing interest in monetizing social media data for financial applications. When Trump promoted 20+ companies on Truth Social days after buying their stocks, it highlighted the platform’s influence on market participants. Now, TMTG is formalizing that influence into a commercial product designed to give paying institutions a millisecond edge in reacting to presidential announcements.
Sources
- Reuters — Truth API launch details, pricing, market-moving posts precedent, fairness concerns from legal experts and traders
- Axios — Exclusive reporting on Truth API, McGurn’s statements on scraping and revenue strategy, TMTG financial performance, precedent of X and Reddit data licensing
- CBS News — Truth API availability and 24/7 coverage details
