Wall Street Firms Secure High-Speed Access to Trump's Truth Social Posts
Bloomberg and two Wall Street firms secured high-speed access to US President Donald Trump's Truth Social posts for up to $100,000 monthly, sparking legal and regulatory scrutiny.
Bloomberg and two Wall Street trading firms have acquired high-speed access to US President Donald Trump's posts on the Truth Social platform for up to $100,000 per month, according to Reuters sources. This service potentially grants subscribers a significant trading advantage over regular retail investors.
Alongside Bloomberg, high-frequency algorithmic trading firms Susquehanna International Group and Jump Trading joined the service. All three companies declined to comment on the report.
The 50-Millisecond Advantage
The service, known as Truth API, allows computer systems to receive the president's posts significantly faster than a person manually checking the application. According to Trump Media executives, the speed advantage is approximately 50 milliseconds.
Such a margin is critical for trading firms utilizing automated software capable of parsing news, analyzing government statements, and executing trades within fractions of a second. President Trump's posts frequently trigger market volatility; for instance, oil futures dropped in April after he announced a ceasefire regarding Iran.
Trump Media introduced the service in July, marketing it to trading firms and financial institutions. By August, the company informed investors that it had secured over ten client agreements, primarily with Wall Street trading firms, ranging from $60,000 to $100,000 monthly.
Lawsuit and Regulatory Scrutiny
The sale of accelerated access to presidential statements has drawn sharp criticism and legal challenges. In August, Intercept Media and the Freedom of the Press Foundation filed a lawsuit requesting the court to block the White House from releasing official government statements exclusively on Truth Social while the paid service operates.
The lawsuit argues that placing a financial barrier on government information may be unconstitutional and unfairly privileges wealthy Wall Street firms. The legal proceeding is currently ongoing. Additionally, Democratic senators urged the US Securities and Exchange Commission in July to investigate whether the service violates securities laws. The agency declined to comment.
