Trump Media & Technology Group, the company behind the Truth Social platform, is launching a new paid service on August 1 that will provide Wall Street firms with expedited access to its most influential social media posts. The service is designed to create a consistent revenue stream for the company, which is currently operating at a loss.
The offering is likely to appeal to financial traders who seek rapid access to market-moving information. Posts made by former President Trump have previously caused significant fluctuations in global markets, particularly concerning trade and tariffs, where even a delay of seconds can incur substantial costs for trading firms. Until now, these firms have relied on manual monitoring of the Truth Social app.
"Markets already move on Truth Social posts," said Kevin McGurn, the interim CEO of Trump Media. He anticipates that the new service will establish a stable profit for the company. The system will deliver instant updates from key accounts 24 hours a day, seven days a week.
Trump Media, which launched its social media application in 2022, also stated that some firms have been illicitly copying its data for months. McGurn indicated that the company plans to implement measures to block these unauthorized data extraction methods, thereby compelling firms to subscribe to the official feed.
While data sales are common among other social media networks, this move underscores the unique intersection of a former president's business interests and his continued influence on public discourse and financial markets.