Trump’s real social platform plans to launch Truth API to provide real-time push of posts to Wall Street paying users
U.S. President Donald Trump's social media platform announced plans on Thursday to sell Wall Street firms priority access to its "most market-impact" posts. Trump Media Technology Group, the parent company of Truth Social, said that it will launch a real-time data streaming service called Truth API, through which investment institutions can obtain posts published by the top accounts of the platform in real time. Trump launched Truth Social in February 2022 and has used it as his primary method of direct written communication. During his second term, he announced dozens of major changes to government policy or military action, often moving stock markets as well. Application programming interfaces (APIs) are data streams commonly provided by numerous companies and organizations to provide instant and secure access to information. Amateur and professional investors alike use APIs for key financial or economic data, including those provided by the U.S. Department of Labor, to develop trading strategies. Trump Media Technology Group plans to launch Truth API on August 1. The platform will allow top U.S. investment institutions to obtain market-moving posts on Truth Social at the earliest, allowing algorithmic trading programs to react to news faster. “The market has already responded to Truth Social’s posts,” said Kevin McGurn, interim CEO of Trump Media Technology Group. “Truth API delivers the platform’s most impactful truth information in a direct, empowering, real-time manner and advances our strategy of monetizing our own assets through highly profitable, sustainable revenue streams.” He continued: "As the popularity of this service increases, we expect that Truth API will become a stable and significant source of revenue for the company, creating long-term value for shareholders." Truth API may become another channel for Trump to rely on his status as president to seek personal gain. Concerns about his potential conflicts of interest continued to grow in December 2024, a month before Trump took office, when he transferred his holdings into a trust, thereby indirectly holding about 53% of Trump Media Technology Group. Earlier this month, the president revealed that he earned more than $2 billion in his first year back in the White House, with more than $1 billion of that coming from his family's cryptocurrency business, World Freedom Financial Corporation. Trump was skeptical of crypto during his first term as president but turned to embrace cryptocurrencies ahead of the 2024 presidential election. Shortly thereafter, his family’s crypto business launched several products, including a stablecoin. After taking office as president, Trump vigorously promoted relevant bills that benefited the encryption industry and signed a bill to establish clear regulatory rules for stablecoins. Trump also called on the Senate to pass the Digital Asset Market Clarity Act. This bill is a bipartisan core cryptocurrency regulatory bill, and it is also the legislative proposal that the entire industry hopes to implement.