NEW YORK — Trump Media & Technology Group (TMTG), the parent company of Truth Social, has talked about charging Wall Street trading firms and investment firms as much as $100,000 a month for earliest access to posts by U.S. president Donald Trump, according to people familiar with the discussions.
The company has also proposed a discounted subscription of $60,000 a month for customers who sign up for a three-year deal, the sources said, who asked not to be identified because the discussions are private.
On Thursday, TMTG said it would launch the Truth API, a licensed data service that would provide low-latency access to posts from what it calls the platform’s 10 most influential accounts for banks, hedge funds and trading firms. The company did not announce pricing but said service is set to begin on Aug. 1 and has already signed up customers.
The offering is TMTG’s first foray into licensing data that could be a new revenue stream beyond its social media business.
Democratic lawmakers swiftly condemned the announcement.
Sen. Ron Wyden, an Oregon Democrat and the top Democrat on the Senate Finance Committee, said the service could enrich the Trump family and provide a windfall for Wall Street firms seeking to profit from presidential announcements. The White House declined to comment on Wyden’s comments and referred questions to TMTG, which did not respond to a request for comment.
Trump's Truth Social posts have previously moved financial markets. U.S. stock indexes jumped on April 9, 2025, after Trump said on the platform he would suspend many of the newly announced tariffs for 90 days.
For companies that engage in high-frequency trading, even a few milliseconds of delay can affect the profitability of large trades. The Truth API is supposed to get posts to paid subscribers as quickly as possible, sources familiar with the proposed service said.
The Financial Times first reported the proposed fee of $100,000 a month.
The API will feature ongoing tracking of influential Truth Social accounts and a repository of posts dating back to 2022, TMTG said. The company has not revealed the identities of the customers who signed up ahead of the planned launch.
President Trump and his sons Donald Trump Jr and Eric Trump are some of the most-followed accounts on the platform, along with conservative commentators including Dan Bongino and Sean Hannity.
Regulatory filings show the Donald J. Trump Revocable Trust owns approximately 114.75 million shares, or about 41% of TMTG’s outstanding stock. Trump’s children administer the trust, and Trump himself remains the beneficiary.
Ethics experts and Democratic lawmakers have questioned whether selling faster access to presidential posts creates a conflict of interest because the president’s words can move markets.
The arrangement is “wildly unethical,” said Donald Sherman, president of the watchdog group Citizens for Responsibility and Ethics in Washington, or CREW. Whether such a service is illegal under existing law is unclear, he said. He said constitutional restrictions on gifts from foreign governments or states would not apply directly in this case.
Sherman also said U.S. laws on insider trading focus on material non-public information in general. It’s more complex to determine whether those laws apply when the information goes to many paying subscribers at once.
Sen Elizabeth Warren, the top Democrat on the Senate Banking Committee, called the proposal “an egregious scheme to profit off the presidency and to enrich Wall Street while doing nothing to help Americans.”
The White House has previously said that Trump’s financial interests are handled by his children, although Trump remains the beneficiary of any income generated by the trust.
TMTG stock closed Friday down just 0.1% at $9.66. The stock is down roughly 27% this year, giving the company a market capitalisation of about $2.7 billion.
