Key Takeaways
- Truth Media and Technology Group (TMTG) has introduced a new data feed called 'Truth API' to provide banks and trading firms with faster access to influential posts.
- The service aims to deliver posts from the 10 most impactful Truth Social accounts, including those of US President Donald Trump, more quickly than regular notifications.
- This move is expected to generate additional revenue for TMTG amid challenges in scaling its media business.
Truth Media and Technology Group (TMTG) has unveiled a new data feed called 'Truth API' that will offer banks and trading firms the fastest access to posts from influential Truth Social accounts, such as those of US President Donald Trump. The service is designed for organisations most impacted by delays in information, including algorithmic trading firms.
According to TMTG's interim CEO Kevin McGurn, markets already move on Truth Social posts, and as adoption grows, the company expects Truth API to become a meaningful ongoing source of revenue. 'Until now, firms that prioritise tracking influential Truth posts have relied on manual monitoring,' said McGurn in a statement.
The launch of Truth API is TMTG's first step into data licensing and opens up a new revenue stream for the company, which has faced challenges in scaling its media business amid stiff competition from larger social media firms. 'Markets already move on Truth Social posts,' said Mark Spiegel, managing member and portfolio manager at Stanphyl Capital Partners.
On April 9, 2025, Wall Street’s main indexes turned sharply higher after Trump posted that he would pause many of his new tariffs for 90 days. 'As far as I know, the only market-moving poster on Truth Social is Trump himself and his posts definitely move the market,' said Spiegel.
The Donald J Trump Revocable Trust holds roughly 114.75 million shares, representing about 41 per cent of all outstanding stock in TMTG's parent company, according to regulatory filings. That trust administers Trump’s investments and is overseen by his children.
Robert Frenchman, a partner at the Dynamis law firm in New York who has defended clients in federal government trading probes, said public companies had to be careful about how they disclose information on such platforms. However, he noted that tech platforms can tier their distribution of information without violating federal securities laws. 'It certainly does not seem fair, but yes, a tech platform can tier its distribution of information without violating federal securities laws,' Frenchman said.
Senator Ron Wyden, the highest-ranking Democrat on the Senate Finance Committee, criticised the move as potentially creating uneven trading opportunities for traders with deeper pockets.
'Markets already move on Truth Social posts. As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company.'
Kevin McGurn, Interim CEO of TMTG
'As far as I know, the only market-moving poster on Truth Social is Trump himself and his posts definitely move the market.'
Mark Spiegel, Managing member and portfolio manager at Stanphyl Capital Partners
