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Trump Media to Cash in on Market-Moving Tweets

SUNI thinks: Has social media become a new financial battlefield?

From August 1, Wall Street firms will have the chance to buy instant access to 'market-moving' posts from Truth Social. The app's owners, Trump Media & Technology Group, are launching this paid service in the hope of turning a profit and giving traders a competitive edge. High-speed updates from influential accounts, including President Donald Trump’s, will be delivered directly to paying clients.


The move highlights an unusual crossover between Trump’s private businesses and his public role as president, with market analysts warning that firms could lose out if they do not pay for quick access. Despite these concerns, the service promises to deliver posts in ‘milliseconds’, running 24/7.


Kevin McGurn, interim boss of Trump Media, said: 'Markets already move on Truth Social posts.' The new commercial data feed, named Truth API, aims to create a steady profit for the firm. However, it also means that firms may have to pay to monitor tweets that could significantly impact global markets.


While other social media networks sell similar data, this is particularly unusual given Trump’s significant influence on financial markets through his posts about trade and tariffs. The BBC contacted Trump Media for comment on whether the president's posts will be included in the paid feed, but they have not responded.


Robert Frenchman, a partner at US law firm Dynamis, said: 'A tech platform can tier its distribution of information without violating federal securities laws.' However, this move has raised ethical concerns about fairness and transparency in financial markets.

Original source:  https://www.bbc.co.uk/news/articles/c79gw4lj89eo?at_medium=RSS&at_campaign=rss
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