Trump sued over $100K/month Truth Social API selling early access to government posts
Truth API gives high-frequency traders Trump's market-moving posts milliseconds early—for a fee.
Deep Dive
Key Points
- Lawsuit filed by The Intercept and Freedom of the Press Foundation claims Truth API violates the Constitution by selling market-moving government news ahead of the public.
- Truth Social has signed 10+ customers, mostly high-frequency trading firms paying $60K–$100K per month, per interim CEO Kevin McGurn.
- Trump Media reported Q2 revenue of $1.7M with a net loss of $238.1M, betting on Truth API revenue expansion to retail investors and AI developers.
Why It Matters
If allowed, this sets a precedent for monetizing government communications and creating pay-to-play information asymmetries in markets.