Truth Social Sells High-Speed API Access to Trump Posts
Trump Media and Technology Group sold high-speed API access to President Trump's posts to Bloomberg and trading firms, sparking SEC investigation requests and lawsuits.
Trump Media and Technology Group sold high-speed API access to President Donald Trump's posts to Bloomberg and high-frequency trading firms Susquehanna International Group and Jump Trading. The service costs between $60,000 and $100,000 per month and provides a timing advantage of approximately 50 milliseconds, enabling algorithmic trading software to react to market-moving statements faster than retail investors.
Democratic Senators Elizabeth Warren and Adam Schiff described the service as a "shocking abuse" of office and requested an investigation by the Securities and Exchange Commission. Simultaneously, Intercept Media and the Freedom of the Press Foundation filed a lawsuit alleging that charging for access to government information violates the First and Fifth Amendments and is unconstitutional.
Trump Media and Technology Group defended the product as an industry-standard API. The company denied the accuracy of the reports, stating the claims were based on "misleading information" intended to harm its shareholders, customers, and the company.