Bloomberg, Susquehanna International Group, and Jump Trading have reportedly purchased access to the Truth API. This service provides a direct feed of posts from Donald Trump on the Truth Social platform. The feed is designed to offer faster access to statements that may influence market movements.
The cost for the Truth API service ranges from $70,000 to $100,000 or more per month. Trump Media and Technology Group, which operates Truth Social, launched the product in July. The company stated that more than 10 customers, primarily high-frequency trading firms, have already signed up for the service.
Trump Media, which trades under the ticker DJT, is currently valued at approximately $1.8 billion. This is a significant decline from its valuation of about $8 billion during its debut in March 2024. Shares of the company have dropped by more than 50 percent over the course of this year.
The business model faces legal scrutiny. In August, Intercept Media and the Freedom of the Press Foundation filed a lawsuit against Donald Trump. The plaintiffs argue that charging for access to government information is unconstitutional and creates an unfair advantage for Wall Street firms over retail investors.
