Truth Social, the social media platform founded by US President Donald Trump, has signed up financial news and data provider Bloomberg and two Wall Street trading firms for faster access to the president’s posts, according to people familiar with the matter.
The service, which reportedly costs between $60,000 and $100,000 monthly, gives subscribers an advantage in receiving Trump’s posts before other users, potentially allowing traders to react more quickly to market-moving announcements.
The two trading firms are Susquehanna International Group and Jump Trading, both of which specialise in high-frequency trading using algorithmic and automated strategies. The agreements, alongside Bloomberg’s subscription, have not previously been reported.
Trump Media and Technology Group, which operates Truth Social, announced the product in July, pitching it to trading firms and other financial institutions. The service uses an application programming interface, or API, to deliver posts approximately 50 milliseconds faster than users checking the platform manually.
The timing advantage could be significant because Trump’s statements on issues such as international conflicts, trade and energy policy can trigger movements in financial markets. High-frequency trading firms use specialised software to analyse news and execute trades within fractions of a second.
In April, oil futures fell after Trump announced a ceasefire in the Iran war on Truth Social, illustrating how his posts can influence asset prices.
Trump Media told investors in August that it had signed more than 10 customer agreements, primarily with Wall Street trading firms paying between $60,000 and $100,000 monthly. Reuters said it could not independently confirm the number of agreements.
Bloomberg, Susquehanna and Jump Trading declined to comment. In a statement, Trump Media said Truth Social offered an industry-standard API product that had attracted significant demand across industries.
The company added that it took customer confidentiality seriously and accused unnamed sources behind the report of spreading misleading information intended to harm its business, customers and shareholders.
The arrangement has raised ethical and legal concerns because Trump remains the sitting president while his family trust holds a significant stake in Trump Media.
According to regulatory filings, the Trump family trust owns 41 per cent of the company, with Trump as its sole beneficiary. Donald Trump Jr. is listed as the trust’s trustee, with sole voting and investment power.
White House spokesman Davis Ingle said neither Trump nor his family was directly involved in portfolio investment decisions but did not address allegations that the president was improperly using his office. Trump Jr. did not respond to a request for comment, while questions about his role were referred to the Trump Organization, which also did not respond.
The paid service has attracted criticism from Democratic lawmakers and media organisations, with concerns that it could give wealthy financial firms an advantage over ordinary investors in accessing information from the president.
In July, Democratic Senators Elizabeth Warren and Adam Schiff asked the US Securities and Exchange Commission to investigate whether the service violated securities laws. They described the arrangement as a “shocking abuse” of presidential office for personal gain.
The SEC declined to comment.
A Trump Media spokesperson rejected the criticism, saying congressional Democrats continued to mischaracterise the Truth API service because of ideological opposition to free markets or a failure to distinguish between public and non-public information.
In August, Intercept Media and the Freedom of the Press Foundation filed a lawsuit against Trump, seeking to prevent the White House from publishing official government announcements exclusively on Truth Social while the paid service operates.
The plaintiffs argue that charging for faster access to government information could be unconstitutional, undermine equal access to public information and favour wealthy Wall Street firms. They also allege violations of the First and Fifth Amendments to the US Constitution.
The lawsuit remains ongoing.
Responding to the broader criticism, Ingle said Trump acted in the best interests of the American public, adding that voters had overwhelmingly re-elected him to office.
Meanwhile, Trump Media’s financial performance has weakened. Its shares have fallen more than 50 per cent this year, and its market value has declined from approximately $8 billion at its March 2024 market debut to about $1.8 billion.
The company has recorded losses of approximately $1.76 billion since 2024, including non-cash charges.
Boluwatife Enome
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