Trump Media: Over 10 firms pay up to $100k a month for early access to Truth Social posts
More than 10 firms pay up to $100k a month for access to Truth Social posts
Trump Media's new Truth API service, launched in August, gives Wall Street traders early access to posts from influential accounts on Truth Social, with over 10 high-frequency trading firms paying $60,000-$100,000 monthly. The company reported a $238m quarterly loss, partly due to crypto ventures, but sees the API as a new revenue stream. Critics question the ethics of profiting from President Trump's statements.
The new service is "expected to provide the company with a new revenue stream," Trump Media said in its earnings statement on Monday.