The Trump Media and Technology Group unveiled Truth API Thursday, which gives licensed users early access to posts from President Donald Trump’s Truth Social account.
Truth Social has become the president’s go-to platform for announcing policy decisions. The new business-to-business data feed will provide institutional customers with access to posts from the highest-ranking Truth Social accounts, including the president.
The Truth API, or application programming interface, will be available Aug. 1. Other similar social networks also sell investment firms access to their APIs. Hedge funds and other Wall Street firms use these feeds to gain an edge on market-moving information posted on social networks.
The company said that it already signed up customers ahead of the launch and is onboarding additional partners in the weeks ahead.
“Markets already move on Truth Social posts,” Kevin McGurn, interim chief executive officer of TMTG, said. “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.”
Trump Media noted that the faster-access offering for firms would close the gap for organizations that place a premium on immediate, verified access to information.
The company also stated that it would become a “meaningful, ongoing source of revenue.” There was no information available on pricing for the API tool.
This new offering blurs the lines as the president could use his political power to monetize his businesses. The president’s previous announcements on the platform have led to shifts in the oil markets as well stocks to drop or rise after tariff announcements.
Trump owns roughly 41% of the shares of Trump Media, according to FactSet.
The post Trump Media to Sell Wall Street Early Access to Market-Moving Truth Social Posts appeared first on TheWrap.
