President Donald Trump's social media company is launching a paid service that gives institutional investors faster access to his posts — and the backlash was swift.
Economist Peter Schiff led the charge, calling it the "latest Trump grift" in a post on X Thursday. "Truth Social will now sell faster access to Trump’s market-moving posts to institutional investors willing to pay for it," Schiff wrote. "This is yet another example of Trump's unprecedented exploitation of the presidency for personal financial gain."
Political commentator Ed Krassenstein went further, labeling the move "blatant Trump family corruption." He argued that hedge funds and algorithmic traders could react to Trump's statements before ordinary users even see them.
The criticism isn't just coming from pundits. Senate Democrats are piling on. Ron Wyden (D-Ore.), the top Democrat on the Senate Finance Committee, said the service would enrich the Trump family and "make Wall Street traders rich." Richard Blumenthal (D-Conn.) called it "flagrant corruption."
Trump Media announced Thursday that its Truth API will launch on August 1, offering 24-hour access to posts from Truth Social's ten highest-ranking accounts, plus an archive dating back to 2022. The company says it has already signed up customers and is targeting banks, high-frequency traders, and other institutions.
"Markets already move on Truth Social posts," interim CEO Kevin McGurn said in a statement. He described the feed as part of a "strategy to monetize proprietary assets" and predicted it would become a "meaningful, ongoing source of revenue."
He's not wrong about the market impact. In April 2025, Wall Street indexes surged after Trump announced a 90-day pause on tariffs — a reminder of why traders would pay for faster access to his words.
But ethics questions are bubbling up. Kathleen Clark, a government-ethics expert at Washington University, told the Associated Press that Trump is "selling expedited, privileged access to information about what he is doing as president." She called it "yet more brazen corruption, an improper exploitation of government power to enrich himself."
Not everyone agrees. Securities lawyer Robert Frenchman offered a counterpoint to Reuters, noting that platforms may legally tier data distribution even when it appears unfair. So while it might look bad, it might not be illegal.
For Trump Media, the API is a new revenue stream at a critical time. The company posted a $406 million loss in the first quarter, partly tied to declines in its crypto holdings. It has been diversifying into digital assets, investment funds, and even nuclear fusion. The Donald J. Trump Revocable Trust owns about 41% of Trump Media, making Trump its largest shareholder — but not a majority owner.
Whether the Truth API will be a financial success or a legal headache remains to be seen. But one thing is clear: the debate over whether a sitting president can profit from his own market-moving words is far from over.
