According to Reuters on July 17th, people familiar with the matter revealed that Trump's 'Trump Media and Technology Group' has discussed charging Wall Street companies up to $100,000 per month in exchange for faster access to Trump's posts on the 'Real Social' platform.
According to sources, the company also offered an discount scheme to businesses – if a business signed a contract for three years, the monthly fee would be $60,000.
The Financial Times also reported information about a subscription fee of $100,000 per month.
According to previous reports, the ‘Trump Media and Technology Group’ has launched a paid licensing data interface that will provide the ‘fastest’ access to posts from top accounts on ‘real social’ platforms, including Trump’s own account.
A spokesperson for the company said that this product, named “Truth API”, will send push notifications to customers from 10 of the most influential accounts at a much faster pace than regular push notifications on ‘real social’ platforms.
Spokesperson also said that this product was designed specifically for algorithmic trading companies and other institutions "with the highest impact of information delay cost." "Prior to that, those companies focused on hot topic monitoring through manual supervision. Truth API has bridged this gap."
Reports say that this move is the first step for Trump’s media and tech group to enter the field of data authorization, and it has opened up new revenue streams for the company. Through his “Real Social” account, Trump posted several announcements that shocked the global market, including his “Free Day” tariffs and posts about implementing trade restrictions. This has made the platform an important source of information for traders, businesses, and financial institutions.
The company’s interim CEO said: “The market has begun to pay attention to posts related to ‘true social networking’… As the number of users increases, we expect the Truth API to become an important and ongoing source of revenue for the company.”
Regarding whether this action will cause unequal opportunities in transactions, the company has not immediately responded to the request for comment.
This move immediately attracted criticism from American Democrats.
Oregon Senator Ron Wyden is the Democratic member with the highest position on the Senate Finance Committee. He stated that this would benefit the Trump family economically and “enrich Wall Street traders.” Elizabeth Warren, the Democratic leader on the Senate Banking Committee, said this is “a vicious plan to profit from the presidency, enrich Wall Street, while doing nothing to help Americans.”
Reuters reported that critics questioned whether Trump and his family were trying to profit from the policies announced by their government. According to Trump's recent financial reports, Trump earned over $1.4 billion from his family's cryptocurrency business last year.
