Economist Peter Schiff led criticism of Trump Media & Technology Group’s (NASDAQ:DJT) planned Truth API, accusing President Donald Trump’s company of selling faster access to market-moving statements.
Critics Target Paid Access To Trump Posts
“In the latest Trump grift, Truth Social will now sell faster access to Trump’s market-moving posts to institutional investors willing to pay for it,” Schiff wrote in an X post on Thursday. “This is yet another example of Trump’s unprecedented exploitation of the presidency for personal financial gain.”
Political commentator Ed Krassenstein called the launch “blatant Trump family corruption,” saying hedge funds and algorithmic traders could react before ordinary users.
Regulatory filings show the Donald J. Trump Revocable Trust owns about 41% of Trump Media, making Trump its largest shareholder, not a majority owner.
Trump Media Pitches New Revenue Stream
Trump Media said Thursday that Truth API will launch Aug. 1 with 24-hour access to posts from Truth Social’s 10 highest-ranking accounts and an archive dating to 2022. The company has signed customers and targets banks, high-frequency traders and other institutions.
“Markets already move on Truth Social posts,” interim CEO Kevin McGurn said. He called the feed part of a “strategy to monetize proprietary assets” and predicted a “meaningful, ongoing source of revenue.”
Trump’s posts have repeatedly jolted markets. Wall Street indexes surged in April 2025 after he announced a 90-day tariff pause, showing why traders value faster delivery.
Ethics Questions Meet A Legal Counterpoint
Kathleen Clark, a Washington University government-ethics expert, told the Associated Press that Trump was “selling expedited, privileged access to information about what he is doing as president.” She called it “yet more brazen corruption, an improper exploitation of government power to enrich himself.”
Sen. Ron Wyden (D-Ore.), the Senate Finance Committee’s top Democrat, said the service would benefit the Trump family and “make Wall Street traders rich.” Sen. Richard Blumenthal (D-Conn.) called it “flagrant corruption.”
Securities lawyer Robert Frenchman offered a counterpoint, telling Reuters that platforms may legally tier data distribution even when it appears unfair.
Truth API gives Trump Media another revenue source after a $406 million first-quarter loss, partly tied to crypto declines. The company has also moved into digital assets, investment funds and nuclear fusion.
Image via Shutterstock
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