Trump’s Generosity, Priced Monthly
Donald Trump’s media company has found a delicate new use for presidential speech: turn it into a low-latency product for Wall Street.
Truth API gives financial firms machine-readable access to posts from 10 high-profile Truth Social accounts, including Trump’s. Plans reportedly run from $60,000 to $100,000 a month, with the lower price tied to a three-year commitment. More than 10 firms have signed up.
Trump Media says no customer sees a post before it appears on the platform. The advantage, it says, is faster delivery of already-public information.
That argument would be less awkward if Kevin McGurn, the company’s CEO, had not marketed the service as a way to receive posts milliseconds before they reach Truth Social’s wider audience.
So the product is not advance knowledge, officially. It is merely the right to learn the public news before most of the public does.
That distinction is routine on Wall Street. Traders have paid for faster data feeds and closer servers for decades. The unusual part is not that speed costs money.
It is that the company selling speed is controlled by the same president whose statements can move the market. Trump holds roughly 53% of Trump Media.
One post can do the work. When Trump wrote that it was “a great time to buy” during a tariff-driven market plunge, the S&P 500 rallied 9.5% in a single day, its largest one-day gain since 2008. A president’s post is not a corporate earnings release. It can rewrite the price of everything around it.
The sales pitch is therefore elegant. The president speaks in public. His company sells faster ears. Large traders pay to hear the sentence while it is still traveling toward everyone else.
The backlash has already begun. Senator Mark Warner has introduced legislation that would bar social-media platforms from selling privileged access to accounts run by public officials whose posts may move markets.
This is not old-style corruption. There is no sealed envelope and no private dinner. There is a subscription agreement, an API key and a White House-sized source of volatility.
Democracy is still public. The fastest version is behind a paywall.
#Trump #TruthAPI #TruthSocial #WallStreet #markets #trading #finance
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Donald Trump’s media company has found a delicate new use for presidential speech: turn it into a low-latency product for Wall Street.
Truth API gives financial firms machine-readable access to posts from 10 high-profile Truth Social accounts, including Trump’s. Plans reportedly run from $60,000 to $100,000 a month, with the lower price tied to a three-year commitment. More than 10 firms have signed up.
Trump Media says no customer sees a post before it appears on the platform. The advantage, it says, is faster delivery of already-public information.
That argument would be less awkward if Kevin McGurn, the company’s CEO, had not marketed the service as a way to receive posts milliseconds before they reach Truth Social’s wider audience.
So the product is not advance knowledge, officially. It is merely the right to learn the public news before most of the public does.
That distinction is routine on Wall Street. Traders have paid for faster data feeds and closer servers for decades. The unusual part is not that speed costs money.
It is that the company selling speed is controlled by the same president whose statements can move the market. Trump holds roughly 53% of Trump Media.
One post can do the work. When Trump wrote that it was “a great time to buy” during a tariff-driven market plunge, the S&P 500 rallied 9.5% in a single day, its largest one-day gain since 2008. A president’s post is not a corporate earnings release. It can rewrite the price of everything around it.
The sales pitch is therefore elegant. The president speaks in public. His company sells faster ears. Large traders pay to hear the sentence while it is still traveling toward everyone else.
The backlash has already begun. Senator Mark Warner has introduced legislation that would bar social-media platforms from selling privileged access to accounts run by public officials whose posts may move markets.
This is not old-style corruption. There is no sealed envelope and no private dinner. There is a subscription agreement, an API key and a White House-sized source of volatility.
Democracy is still public. The fastest version is behind a paywall.
#Trump #TruthAPI #TruthSocial #WallStreet #markets #trading #finance
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