Trump offering early access to online posts in move seen as corruption
📰 source: theguardian_business · 💼 business
trump media and technology group launched truth api on saturday, a subscription service giving paying businesses real-time access to truth social posts from trump and other high-profile accounts before the general public. prices run up to $100,000 per month, and the company says it's aimed at trading firms and similar buyers.
trump is the platform's largest user and the company's largest shareholder, so he could personally profit from the service. critics call it market manipulation and note trump has used truth social to announce tariff moves and iran-related policy that shifted markets. democratic senators adam schiff and elizabeth warren asked the sec to investigate, calling it 'an outrageous abuse of the president's office.'
trump media's stock has fallen over 70% since trump took office, erasing about $6bn in shareholder value. shares climbed 5.5% on friday to $10.39, ahead of the api launch. the company has relied on advertising but the new service could add revenue.
why it matters: trump's new data service lets insiders buy early access to market-moving posts, raising ethics and manipulation concerns.
source: theguardian_business
sentiment: -0.50 · impact: 0.50