Donald Trump’s social media company has discussed charging traders and investors up to $100,000 per month for faster access to the US president’s posts on its Truth social platform, according to a report by the Financial Times.Trump Media & Technology Group has reportedly quoted a six-figure monthly sum in talks with potential buyers of the “Truth API” data service.Proprietary trading firms and hedge funds pay heavily for ultrafast data feeds because every millisecond counts when reacting to market-moving news. Trump often makes big announcements on Truth Social that cause huge fluctuations in global markets.“People will pay because they have to,” a hedge fund executive told the FT. “If you are after that news, you will be crushed.”
Market stir due to Trump’s post
Just before the Trump administration imposed a series of tariffs last year, Trump posted on Truth Social that it was “a great time to buy.” Shortly afterward, the S&P 500 rose 9.5 percent.He has also favored specific stocks, appreciating companies like Nvidia and Apple and helping their share prices. More recently, after the war with Iran broke out, Trump posted on March 23 that he had “a very good and productive conversation with Iran”, causing oil prices to fall sharply.
wall street reaction
The announcement of the API product triggered a reaction on Wall Street as traders and investors were not in favor of paying a company linked to the president for market-changing information.Social media platforms like X also provide data feeds to algorithmic traders through financial terminals like Bloomberg. TMTG expects the feed to provide 24-hour coverage, seven days a week.The general public will not notice a difference in speed between updates on Truth API and Truth Social because Truth API will give a “millisecond” advantage to subscribers of the feed.“Milliseconds are a big deal in this world, high-frequency trading firms and systematic quant hedge funds will definitely want this product,” the chief executive of the US markets infrastructure company told the FT.