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.
- Toutouxc
Insider trading as a service. No one is going to take the US seriously for the next 50 years.
- Lendal
If a rival political party takes power in 2029 and they decide to do nothing about this, are they complicit?
If the cops drive past a mugging, observe, and then drive on past allowing the law to go unenforced, are they not just as corrupt as the robbers?
- Aurornis
When I first heard saw headlines about this I thought it was so outlandish that it couldn’t possibly be real. Yet here we are.
It’s amazing how much corruption is occurring for so little money. A million dollars a month is peanuts for such clear graft.
- koe123
Curious: are there any republicans left on HN? I have no concept of how you can defend this
- beams_of_light
I think most of us who have lived through many presidents understood that there was a decency required of the holder of the office that acted as the only true limit on their corruption. It's confounding that so many people in the US can't see it for what it is.
- kubafu
Official "insider-knowledge-as-a-service". No surprise who the first clients are.
- micw
Why is this not being stopped by us jurisdiction?
Or at least why does the rest of the world does not decouple from those markets?
- JKCalhoun
So I signed up.
I figure if I can get over a hundred people to sign up with me at $1K a month, I pass along the info, they save money, and I profit.
Amidoingitrite?
<JK, but, wow, what a time we're witnessing.>
- ratelimitsteve
we've reached the "yes, we're cheating, do something about it" stage of corruption
- tho23u434079
I'm surprised this isn't an impeachable offence.