DistantNews
Support us
Trump company seeks $100,000 monthly for faster access to his posts
🇳🇴 Norway /Economy & Trade

Trump company seeks $100,000 monthly for faster access to his posts

From Aftenposten · () Norwegian

Translated from Norwegian, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Donald Trump's media company is reportedly seeking up to $100,000 monthly for expedited access to his Truth Social posts.
  • The service, "Truth API," would provide professional investors with a few milliseconds head start on his posts.
  • Critics argue this practice resembles corruption and is unprecedented for a head of state.

Donald Trump's media company is exploring a lucrative venture that would offer preferential access to his Truth Social posts, according to the Financial Times. The proposed "Truth API" service could charge up to $100,000 per month for professional investors and traders to receive the former president's posts milliseconds before they appear on the platform.

Such a small time advantage could be critical for algorithmic trading firms and hedge funds, as Trump's posts have frequently triggered significant market movements. "People will pay because they have to. If you're behind on this kind of news, you'll get crushed," one hedge fund executive told the newspaper.

People will pay because they have to. If you're behind on this kind of news, you'll get crushed.

— Hedge fund executiveDescribing the potential demand for expedited access to Trump's posts.

However, the plan has drawn sharp criticism. Chief Economist Harald Magnus Andreassen of Sparebank 1 Markets called the move "fundamentally wrong" and likened it to corruption. He stated that such a practice would be unthinkable for a head of state in any other country. The potential for investors to feel compelled to pay a company linked to the presidential family for market-moving information has raised concerns on Wall Street. Trump Media & Technology Group, which controls Truth Social and is largely owned by the Trump family, has not responded to the Financial Times' inquiries.

It would be unthinkable that a head of state in any other country could do something similar.

— Harald Magnus AndreassenCommenting on the unprecedented nature of the proposed service.
DistantNews Editorial

Originally published by Aftenposten in Norwegian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog