Trump Media Launches Truth API Amid SEC Scrutiny
Trump Media & Technology Group has launched its paid data feed called Truth API, providing financial firms with near-real-time access to posts from high-profile accounts on Truth Social. The service is priced at up to $100,000 per month and aims to capitalize on the influence of President Donald Trump's social media activity, which often precedes official announcements. Critics argue that offering premium access could violate insider trading laws. Democratic senators Elizabeth Warren and Adam Schiff have urged the SEC to investigate whether Truth API breaches federal securities law by potentially giving financial advantage through privileged information. Legal experts suggest this may fall under misappropriation theory or conflict with the 2012 STOCK Act, which prohibits government officials from using non-public information for personal gain. Trump owns a significant stake in Trump Media and stands to benefit financially as subscriptions grow. The company claims it is providing access only to publicly available data but faces skepticism over its implications on market fairness.
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Topics: api sec_scrutiny trump_media truth_social