More Top Wall Street Firms Are Paying Up To $100,000 a Month to See Trump’s Social Media Posts First

More Wall Street firms are paying as much as $100,000 a month to receive President Donald Trump's Truth Social posts faster than ordinary users, potentially giving their automated trading systems an advantage when presidential announcements move financial markets.

Bloomberg, Susquehanna International Group and Jump Trading have signed up for the service, known as Truth API, Reuters reported, citing people with direct knowledge of the arrangements.

Susquehanna and Jump Trading specialize in high-frequency trading, using computer programs to analyze information and execute transactions at extremely high speeds. Bloomberg provides financial news, market data and analytics to professional investors.

Truth API offers subscribers a timing advantage of about 50 milliseconds, or five-hundredths of a second, according to Trump Media officials. Such a difference can matter to trading firms whose software is designed to identify market-moving information and place orders within fractions of a second.

Trump's social media posts have often influenced financial markets, particularly when they concern trade policy, tariffs and international conflicts. In April, oil futures fell after he announced a ceasefire in the Iran war on Truth Social.

Trump Media & Technology Group announced Truth API on July 16 and launched the product on Aug. 1. The subscription service delivers posts from influential Truth Social accounts directly to institutional customers through a machine-readable data feed. It allows financial institutions to incorporate the information into their trading and monitoring systems without manually checking the platform.

The product also provides continuous coverage and access to historical posts dating back to 2022. In its second-quarter earnings release, Trump Media said it had signed more than 10 customer agreements and was already generating revenue from Truth API.

The company did not name its subscribers or disclose the revenue generated by the product. The monthly subscription fees range from $60,000 to $100,000.

The arrangements have drawn scrutiny because Trump retains a substantial financial interest in the company operating the platform.

His family trust holds approximately 41% of Trump Media, with the president listed as its sole beneficiary. His son, Donald Trump Jr., serves as trustee and holds voting and investment authority over the shares, according to company filings with the Securities and Exchange Commission.

White House spokesman Davis Ingle told Reuters that neither Trump nor his family was directly involved in portfolio investment decisions. He did not directly address questions about whether the president was improperly benefiting from his position.

The controversy has emerged during a difficult period for Trump Media's stock. Its shares have fallen more than 50% this year, while its market capitalization has declined from approximately $8 billion at its March 2024 stock market debut to about $1.8 billion.

Democratic Sens. Elizabeth Warren of Massachusetts and Adam Schiff of California asked the SEC in July to investigate whether selling faster access to presidential statements could violate federal securities laws.

The lawmakers argued that the arrangement could favor wealthy investors and trading firms over ordinary market participants. They also questioned whether the president could personally benefit from a service offered by a company in which he maintains a significant financial interest.

The SEC declined to comment on the request, Reuters reported. In August, Freedom of the Press Foundation and The Intercept filed a federal lawsuit seeking to prevent the Trump administration from making official government announcements exclusively through Truth Social while paid subscribers receive faster access.

The plaintiffs argue that the arrangement violates the First Amendment by providing unequal access to government information and the Fifth Amendment by imposing unreasonable financial conditions on access to public statements.

Those allegations have not been resolved by the courts, and the lawsuit remains ongoing.

Trump Media has rejected the criticism, maintaining that Truth API is a standard commercial data product offering faster delivery of information that is already publicly available. The company argues that critics are failing to distinguish between public information and information that is not publicly available.

The service is part of Trump Media's strategy to generate revenue beyond its social media operations. The company reported a $238.1 million net loss in the second quarter of 2026, including substantial noncash charges, while holding approximately $1.9 billion in financial assets.

Its quarterly revenue rose 89% from a year earlier to $1.7 million, according to its financial results released in August.