Truth Social will sell Wall Street quicker access to posts
By John Towfighi, CNN
(CNN) — Truth Social will sell Wall Street firms quicker access to market-moving posts from President Donald Trump, the company said on Thursday.
Truth Social, owned by Trump Media & Technology Group (DJT), has become the president’s go-to place for announcing policy decisions. The president’s posts frequently move markets, from stocks to oil.
Trump Media announced the new data feed, known as an API, or application programming interface, will be available to institutional customers beginning on August 1. Competing social networks also sell traders access to their APIs.
“Markets already move on Truth Social posts,” Kevin McGurn, interim chief executive officer at TMTG, said in a statement.
The company said the faster-access offering would help add to Trump Media’s revenue stream. It serves as the latest in a growing list of examples of the president blurring the lines between his business and his White House duties.
“Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream,” McGurn added.
Wall Street trading desks use algorithms to scan for specific signals and execute trades automatically. Getting information even a scant few seconds faster can mean potentially massive profits for those algorithmic traders.
The feed will license data from the top 10-ranking Truth Social accounts, and delivers posts to customers “in milliseconds,” the company said. There was no available information on pricing.
Some of the Truth Social accounts with the highest engagement include Trump, FBI Director Kash Patel and Health Secretary Robert F. Kennedy Jr.
Companies have previously tried to scrape data from Truth Social, which is in violation of its terms of service, a spokesperson said.
The president’s posts about Iran and the Strait of Hormuz have moved oil markets. His announcements about levying tariffs in the spring of 2025 caused stocks to drop – and then his posts about backing off some tariffs caused them to surge.
Trump has also used Truth Social to tout specific businesses – including some in which he had recently bought shares, a CNN investigation found.
Trump Media & Technology Group shares were down about 1.5% in afternoon trading and are down almost 30% this year.
This story has been updated.
The-CNN-Wire
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