Truth Social, the social media platform associated with President Trump, is beginning to offer premium access to traders on Wall Street starting this month. The service, called Truth API, will provide advance notice of posts from Trump and other prominent Truth Social users, including potentially his sons, to paying subscribers for $100,000 monthly. The move allows high-frequency traders to potentially profit from market-moving announcements before the general public, though Truth Social maintains the information is released to both groups simultaneously.
Trump has a documented history of moving financial markets through his social media posts, with announcements regarding tariffs, foreign policy, and other major decisions regularly affecting stock prices, bond values, and currency exchanges. In recent months, Trump has also posted endorsements of specific publicly traded companies, triggering significant trading activity. Critics argue that providing early access to traders creates an unfair advantage and represents a conflict of interest given Trump’s position as president.
Government ethics experts and trading industry critics have raised concerns about the arrangement. One ethics watchdog expert characterized the situation as “a real mess,” noting that Wall Street would benefit from knowing about company endorsements before other investors. An executive at a major trading firm stated that similar arrangements for a typical corporate CEO would constitute serious legal violations, while another trading expert estimated approximately 100 high-frequency trading firms might subscribe to the service.
Truth Social’s parent company, Trump Media & Technology, defended the service in a statement, characterizing criticism as ideologically motivated opposition to free markets. The identity of actual subscribers remains undisclosed, as major high-speed trading firms have not publicly commented. Truth Media reported significant losses despite the president’s use of the platform for major policy announcements, and the stock has declined substantially since Trump took office.
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