President Trump's social network is looking to turn its most attention-grabbing posts, possibly including those of its most famous poster, into a Wall Street revenue stream. Trump Media & Technology Group, owner of Truth Social, will roll out a paid "Truth API" on Aug. 1 that beams select posts to institutional clients in milliseconds, 24/7, the BBC reports. The feed is pitched at traders who want a faster look at potentially market-moving messages—especially those linked to Trump, the platform's biggest draw, whose online remarks have previously jolted markets.
Interim CEO Kevin McGurn says "markets already move on Truth Social posts" and predicts the service will help the loss-making firm generate consistent profits. The company also plans to block unofficial data-scraping methods and push firms toward its paid feed. Whether Trump's own posts will be included isn't yet clear; the White House isn't commenting, and the company hasn't confirmed details. A Trump Media press release, however, says the feature will let traders view "the highest-ranking Truth Social accounts" before others do. Trump has the most followers on Truth Social, with 12.9 million, the AP reports. Sons Don Jr. and Eric are in second and third place.
If the president's posts are included, experts say it would mark an unusual intertwining of a sitting president's public statements and his private business interests—and could leave firms that don't subscribe at a disadvantage. "He's selling expedited, privileged access to information about what he is doing as president," Kathleen Clark at Washington University School of Law, an expert in conflicts of interest rules, tells the AP. "It's yet more brazen corruption, an improper exploitation of government power to enrich himself." The company's share price, which has plunged more than 70% since Trump returned to office, rose 0.6% on Thursday.
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