Wall Street firms will soon have to pay to see Donald Trump's social media posts in milliseconds, after Trump Media announced a new paid data feed that stands to make the president a direct profit from his own public statements.
The company behind Truth Social is launching Truth API, a commercial data feed delivering instant updates from "the highest-ranking" accounts from 1 August. With Trump holding the largest follower count on the platform, his posts – which have repeatedly triggered sudden swings in global markets, particularly on trade and tariffs – are the likely draw for financial traders who currently monitor the app manually.
“Trump Media launches Truth API paid feed for traders, with President Trump likely to profit from his own posts.”
"Markets already move on Truth Social posts," said Kevin McGurn, interim boss of Trump Media, adding the service would create a steady profit for the loss-making firm.
The feed, running 24 hours a day, promises delivery in "milliseconds" to paying institutional clients. Trump Media did not disclose pricing. The company said some firms have been copying its data without permission for months. McGurn warned these methods will soon be blocked, forcing firms to buy the official feed.
Since Trump remains the majority shareholder, he stands to benefit directly from selling expedited access to his own public statements. The BBC asked Trump Media whether the president's posts would be included in the paid feed; the White House declined to comment. Mark Spiegel, an investment expert at Stanphyl Capital Management, called it "unprecedented" if Trump's posts were included, arguing companies trading on headlines would be "at a disadvantage" if they did not pay. But he cautioned: "Trump's posts constitute just a tiny fraction of what moves markets."
Robert Frenchman, a partner at US law firm Dynamis, said: "It certainly does not seem fair, but yes, a tech platform can tier its distribution of information without violating federal securities laws." The move highlights the unique overlap between Trump's private businesses and his public role as president, raising questions about who benefits when the most powerful man in the world posts.
The new feed is set to go live in August, and Wall Street is watching.