Two senators ask SEC to investigate Trump’s plan to sell access to Truth Social posts
- Democratic senators Elizabeth Warren and Adam Schiff have formally requested the U.S. securities regulator to investigate whether Trump Media’s plan to sell early access to President Donald Trump‘s social media posts violates federal law.
- Trump Media, known as TMTG, recently unveiled a paid, licensed data feed called “Truth API” designed to offer trading firms the fastest access to posts from influential Truth Social accounts, including those made by Trump, reportedly for up to $100,000 per month.
- In their letter to SEC Chairman Paul Atkins, the senators stated that this initiative appears to be an “outrageous abuse” of Trump’s position for personal benefit, undermining everyday investors and market integrity.
- Trump, who owns about 41% of Trump Media, stands to directly profit from this paid access model, which the company indicated has already secured customers ahead of its August 1 launch.
- “Senate Democrats continue to mischaracterize Truth API either out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information — or, quite possibly, both,” said a spokesperson for TMTG in an emailed statement.
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