Truth Social Sells Early Access to Trump Posts to Trading Firms for Up to $100,000 Monthly

Donald Trump's social media platform, Truth Social, is generating controversy with a new service offering early access to the former president's posts. The platform has already signed up more than ten clients, predominantly firms specializing in high-speed trading on financial markets, according to Kevin McGurn, acting CEO of TMTG, the parent company.

These clients are reportedly paying between $60,000 and $100,000 per month for this expedited access. McGurn indicated that TMTG is also in discussions with potential clients from the artificial intelligence sector. The service, dubbed Truth API, aims to provide a market advantage to investors by offering quicker access to announcements from Trump, who frequently uses the platform for significant statements on topics like tariffs and military conflicts.

Despite the potential for this new revenue stream, TMTG faces financial challenges. In the last quarter, the company's revenue grew by 89% year-over-year, reaching only $1.7 million. TMTG recorded a substantial net loss of $238.1 million, a significant increase from the $20 million loss in the previous year, partly due to a decline in the value of investments such as digital currencies. The pricing and the very concept of privatizing access to potentially official information have drawn criticism in the U.S.

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We are in talks with other potential clients, for example from the AI sector.