Three prominent Wall Street players have reportedly signed up for a paid data feed that delivers Donald Trump's Truth Social posts faster than the general public can see them, a service that could hand subscribers a trading edge measured in milliseconds.
According to a Reuters report published Wednesday, Bloomberg — the financial news and data giant — along with high-frequency trading firms Susquehanna International Group and Jump Trading have subscribed to the product, known as Truth API. Monthly fees are said to range from $60,000 to $100,000. None of the three firms has confirmed the subscriptions, and Trump Media & Technology Group, which operates Truth Social, disputed the report, calling it reliant on misleading information from anonymous sources.
How the feed works
Truth API is a data pipeline that pushes posts from influential Truth Social accounts to paying customers ahead of the platform's public timeline. Trump Media has put the timing advantage at roughly 50 milliseconds. That sliver of time is meaningful to automated trading operations, which parse headlines and execute orders in fractions of a second.
When the US president comments on tariffs, interest rates, military conflicts or other policy matters, markets can lurch sharply. A firm that sees the post first may be able to position itself before prices adjust. Trump Media rolled out Truth API in July and opened it to institutional clients in August, saying it had secured more than 10 customer agreements, mostly with Wall Street trading desks.
Why the arrangement draws scrutiny
The controversy centers on ownership and access. Trump's family trust holds 41% of Trump Media, and the president is the trust's sole beneficiary. Reuters noted the deals could represent the first instance of a business tied to a sitting president selling paid access to his statements.
Critics contend that charging for faster delivery of posts capable of moving markets raises fairness questions and concerns about using public office for private financial gain. Richard Painter, former chief ethics lawyer to President George W. Bush, told the BBC that selling information generated through government duties to parties who might trade on it could raise insider-trading issues. He suggested an SEC commissioner should threaten to resign unless the plan is halted or the feed excludes posts tied to US government business.
In July, Democratic Senators Elizabeth Warren and Adam Schiff asked the Securities and Exchange Commission to examine whether the service runs afoul of securities laws. The SEC declined to comment on the request.
Separately, Intercept Media and the Freedom of the Press Foundation sued Trump in August, seeking to block the White House from publishing official government announcements exclusively on Truth Social while the paid feed exists. The suit argues the arrangement could be unconstitutional and would give wealthy financial firms preferential access to government information.
Responses from the White House and Trump Media
White House spokesman Davis Ingle said neither Trump nor his family was directly involved in portfolio investment decisions, but did not address allegations that the president was improperly using his office. Trump Media said Truth API is an industry-standard data product with significant demand across sectors, that it takes customer confidentiality seriously, and that the reporting was misleading.
For investors, the episode highlights a broader question about how market-moving information is distributed and priced. If a paid feed can deliver presidential statements before the public sees them, the value of that speed advantage becomes a tradable asset — and a potential regulatory flashpoint.
This article is for informational purposes only and does not constitute financial advice.
