On August 2nd, Trump Media Group officially launched the paid data service Truth API, providing customers with faster access to posts from other top accounts on Trump's Truth Social platform. The service costs $100000 per month and is mainly aimed at trading companies and enterprises. Kevin McGurn, interim CEO of Trump Media, stated that the Truth API aims to provide institutions with direct, licensed, and real-time data streams of the most market impactful Truth posts. Democratic Senators Adam Schiff and Elizabeth Warren have written to the U.S. Securities and Exchange Commission requesting an investigation into whether Trump's media has violated the law. The two individuals stated that the service may constitute the use of the presidency for personal gain and harm ordinary investors and market integrity. Trump media stated that the Truth API will drive the commercialization of the company's own data assets through a high profit margin, recurring revenue model.
