Trump's Truth Social API service secures 15 corporate contracts, faces lawsuit

Trump Media & Technology Group (DJT) is advancing its strategy to monetize Donald Trump's social media presence by offering premium access to his Truth Social posts. The company's 'Truth API' service, launched earlier this month, provides paying clients with posts from Trump and other key Truth Social accounts 0.001 seconds before they are publicly released.

Kevin McCarty, CEO of Trump Media, revealed in a CNBC interview that the company has secured approximately 15 corporate contracts for this service, a figure that has grown since their first-quarter earnings report indicated over 10 such deals. The monthly subscription fee for this expedited access can reach up to $100,000 (approximately 138 million South Korean won).

This business model has drawn criticism, with opponents arguing that it grants financially powerful companies an unfair advantage by allowing them to receive market-moving information before the general public. Concerns have been raised that this practice could be seen as an abuse of Trump's influence on financial markets through his posts.

In response to these criticisms, news outlets like The Intercept and the Freedom of the Press Foundation filed a lawsuit in a New York federal court against Trump and his company. The plaintiffs described the service as "unusual, corrupt, and unconstitutional," highlighting the potential for market manipulation and unequal access to information.