The media company of Donald Trump, Trump Media & Technology Group, which owns the short messaging platform Truth Social, has announced a new paid offering. It will provide users with faster access to online publications from the U.S. president.
The service, called “Truth API,” will offer “licensed real-time access to posts from Truth Social accounts with the greatest reach.” Trump himself has the largest audience on the platform, with nearly 13 million subscribers. He actively uses the service to make announcements and comment on current events, frequently making headlines in global media.
Monetization and accusations
With this move, the company will begin monetizing fast access to the president’s publications. Critics have repeatedly accused 80-year-old Donald Trump of leveraging the presidency for personal gain. Last year alone, the managers of the U.S. president’s assets executed more than 21,000 stock trades on his behalf.
There is no evidence linking these investment decisions to Trump’s role as U.S. president. The “New York Times” found no indication that Trump influenced his brokers’ investment choices or that they used insider information. Trump has also denied these allegations.
Impact on markets and target audience
It is evident that Trump’s posts on Truth Social are already impacting financial markets. This was confirmed by Kevin McGurn, interim head of Trump Media & Technology Group, who stated: “Markets are already reacting to posts on Truth Social.”
This is why the new service is primarily targeted at stock traders and financial news providers, for whom even fractions of a second can be crucial. According to reports, “Truth API” is set to launch on August 1.
Source: Der Spiegel
