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Trump Media's new paid data service goes live, giving clients faster access to Trump’s posts
Trump Media and Technology Group's new paid data service launched on Aug. 1, providing faster access to Truth Social posts from President Donald Trump and other top accounts on the platform.
"Truth API," the new application programming interface, is designed to give firms "a direct, licensed, real-time feed of the platform's most market-moving Truths," interim CEO Kevin McGurn said in a release announcing the launch.
While not explicitly naming Trump, the president's @realDonaldTrump account is the largest on Truth Social by far, often posting his most consequential policy decisions there first, including updates on the war with Iran.
Trump's family is also the largest shareholder in Trump Media, the public company that operates Truth Social.Â
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Truth Social’s Cash Grab Will Not Save Trump’s Business
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Logging on to Truth Social still isn’t a very dynamic user experience; users are mostly getting AI memes, Fox News clips, and posts from Republicans championing President Donald Trump. But some Wall Street traders are about to pony up as much as $100,000 per month to subscribe to a service to get data from Trump’s social-media company the instant that his posts are made public.
On Saturday, Trump Media & Technology Group, the parent company of Truth Social, is launching Truth API — an “application programming interface” that provides Trump’s posts to subscribers within milliseconds. That may not sound like a six-figure product to a normal person. But to high-frequency traders buying and selling at the fraction of a blink of an eye, it could be worth the investment. Trump makes news on Truth Social. And now a company he owns 41 percent of is selling that news to Wall Street so it can act on it before anyone else can. High-frequency traders need this data fast to be able to win a game where the first computer to get the new info in their algorithm wins. In the world of the HFT, “speed becomes the tiebreaker,” says trader Haim Bodek.
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