Donald Trump's media company plans to introduce a paid service offering high-speed access to posts on Truth Social, a move that could allow financial institutions to gain a competitive edge by receiving information milliseconds ahead of others. The service, dubbed Truth PSI, is expected to launch next month and has already secured customers, according to a company press release.
This expedited access could include posts from President Trump himself, whose communications on the platform have previously influenced national security discussions, stock prices, and bond yields. Experts have raised concerns about potential conflicts of interest, with one legal scholar describing the plan as an "improper exploitation of government power to enrich himself." The Trump family company has declined to comment on whether the service will profit directly from the presidency.
Truth Social's parent company, Trump Media & Technology, stated that Truth PSI would allow traders to see content from "the highest-ranking Truth Social accounts" before the general public. The president has the largest following on the platform, with 12.9 million followers, followed by his sons Donald Jr. and Eric.
Trump Media, which has been diversifying into areas such as cryptocurrency and financial services, aims to monetize its proprietary assets through initiatives like Truth PSI. The company recently replaced its CEO, Devin Nunes, with media executive Kevin McGurn, who described the new service as a strategy to generate a "meaningful, ongoing source of revenue."
Stock in Trump Media & Technology has experienced significant volatility, plunging 70% since Trump took office last year and erasing billions in shareholder wealth. The company's stock closed at $9.63 on Thursday, a decrease from its pre-inauguration close of $40. Despite exclusions in conflict of interest laws for the president, previous administrations have generally acted to avoid such potential conflicts by divesting assets or placing them in blind trusts. Trump has not followed this precedent.