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🇮🇸 Iceland /Crime & Justice

Trump Sued Over Selling Early Access to Truth Social Posts

From Morgunblaðið · () Icelandic

Translated from Icelandic, summarized and contextualized by DistantNews.

At a glance

News Named sources In the courts
  • Two U.S. media groups, The Intercept and the Freedom of the Press Foundation, have sued former President Donald Trump in New York.
  • The lawsuit alleges that Trump's decision to sell access to his Truth Social posts to large investment firms seconds before public release is "unprecedented, corrupt, and unconstitutional."
  • Critics argue the new Truth API service could lead to insider trading, as Trump's posts often influence market values significantly.

Former U.S. President Donald Trump is facing a lawsuit from media groups The Intercept and the Freedom of the Press Foundation over his decision to monetize access to his Truth Social posts.

The lawsuit, filed in New York, claims that Trump's new Truth API service, which grants large investment firms near-instantaneous access to his posts, is "unprecedented, corrupt, and unconstitutional."

This arrangement is fundamentally corrupt. The president profits from providing access to market-moving government information to those willing and able to pay his private company.

— Lawsuit filingDescribing the core allegation against Donald Trump's Truth API service.

This service allows subscribers to receive Trump's messages on Truth Social seconds before the general public. Subscription costs range from $60,000 to $100,000 per month. The plaintiffs argue that this arrangement is fundamentally corrupt, enabling the former president to profit from providing market-moving government-related information to paying entities.

Concerns have been raised that the Truth API could facilitate insider trading. Trump frequently uses Truth Social to announce significant news, including developments in international conflicts or trade policy, which can cause dramatic fluctuations in market values. Providing privileged access to such information to select investors could give them an unfair advantage.

unprecedented, corrupt, and unconstitutional.

— The Intercept and Freedom of the Press FoundationCharacterizing Trump's Truth API service in their lawsuit.
DistantNews Editorial

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

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