U.S. Democratic senators urge Wall Street to refuse to buy "early access" to Trump's posts
Warner, the senior Democratic senator in the U.S. Senate, urged banks and trading firms on Tuesday not to use a new product that provides early access to posts on Trump's "Truth Social" social platform, warning that it would lead to a "very worrying information asymmetry" in government policy. Earlier this month, Trump Media and Technology Group (TMTG) launched a paid authorized data service called "Truth API" to provide banks and trading companies with the "fastest" push of posts from Truth Social accounts, including Trump's own account. Trump's posts often trigger global market volatility. Warner urged the heads of major U.S. financial industry associations to speak out against such arrangements, arguing they would allow Trump to gain personal financial benefit from information on government policy. “I urge you to make it clear: The financial services industry will not endorse arrangements that sell priority access to presidential communications that could impact the market, especially if such arrangements could result in personal financial benefit to the president,” he wrote in a letter to the heads of six major financial industry associations. Warner is also a member of the Senate Finance Committee.