Trump Media & Technology Group (DJT) is launching Truth API, a data feed that sells real-time posts from Truth Social's top 10 accounts—including President Trump's—to high-frequency traders and hedge funds at up to $100,000 per month. The service, going live on August 1, has already sparked fierce debate over ethics and potential insider trading, as Trump himself holds roughly 41% of DJT shares through a revocable trust.
What Truth API offers
Truth API is a B2B data licensing platform that delivers posts from the top 10 accounts on Truth Social with sub-second latency, according to Bloomberg. The feed includes @realDonaldTrump, @WhiteHouse, FBI Director Kash Patel, Deputy Chief of Staff Dan Scavino, and Health Secretary Robert F. Kennedy Jr., among others. The service operates 24/7, including weekends and after-hours trading, targeting hedge funds, proprietary trading firms, quant investors, and algorithmic traders.
Pricing details from the Financial Times show a maximum monthly fee of $100,000, which drops to $60,000 per month if an institution signs a three-year contract. Trump Media says several clients have already signed up ahead of the August 1 launch.
Why Wall Street is uneasy
Traders are eager for the data because Trump's posts can move markets dramatically. In April last year, he wrote "GREAT TIME TO BUY" on Truth Social hours before announcing a pause on most reciprocal tariffs, triggering a surge in stocks and Bitcoin. This year, his posts about U.S.-Iran tensions caused wild swings in oil prices. For algorithmic traders, being milliseconds faster than competitors can mean billions of dollars in profit.
But the arrangement has drawn sharp criticism. Senator Adam Schiff accused Trump of "using his office for personal profit" to prop up his struggling social media business. A CNBC reporter said the idea "makes me sick," and some market participants argue it effectively legalizes insider trading. Since Trump is both the president and the largest shareholder of DJT, institutions are essentially paying the president's own company for early access to his market-moving statements.
A product few can refuse
Despite the controversy, Truth API presents a dilemma for Wall Street: any firm that doesn't subscribe risks being left behind when a Trump post moves markets. With competitors already signing up, the pressure to pay up is intense. The question now is how many institutions will bite the bullet and subscribe when the service goes live on August 1.