Traders buy Truth API access as Trump posts move markets

Truth API has drawn more than 10 customers, giving Trump Media a new revenue line while critics scrutinize access to President Trump’s posts.

Trading firms buy milliseconds

Trump Media & Technology Group said Monday that early demand for the real-time product is coming mainly from high-frequency trading firms. Interim Chief Executive Kevin McGurn told investors on the company’s first earnings call that customers are paying between $60,000 and $100,000 a month.

The product gives subscribers machine-readable feeds from leading Truth Social accounts within milliseconds, according to McGurn. He described the advantage as "fractionally faster" access to information that is already public, a distinction central to the company’s defense of the service.

McGurn said Trump Media is also speaking with artificial-intelligence hyperscalers and may eventually market the product to retail traders. Those potential customers were presented as future targets, not as signed subscribers.

Raskin seeks subscriber names

The product has drawn political scrutiny because President Trump uses Truth Social to comment on trade talks, the Iran war and other events with market consequences. Critics say selling faster access to those posts risks blending the first family’s commercial interests with White House communications.

Rep. Jamie Raskin, Democrat of Maryland, sent McGurn a July 30 letter demanding information on the service, including the names of subscribers. Raskin argued that Trump Media was selling investors access to potentially market-moving information, a claim the company disputes.

McGurn said Monday that the feed covers public posts and rejected the criticism as misinformed. The central unresolved issue is not whether the posts are public, but whether faster, automated delivery creates an advantage regulators or lawmakers may seek to police.

Losses frame the data push

The subscriber disclosure landed alongside weak quarterly numbers. Trump Media reported a second-quarter net loss of $238 million on revenue of $1.7 million, leaving losses at more than 100 times sales for the period.

The company’s results included losses connected to bitcoin bets, according to its report. Last week, Trump Media also unwound deals with Crypto.com that had been intended to create a prediction-market feature on Truth Social and a stand-alone digital-asset treasury.

Those reversals make the data-feed strategy more important to the company’s near-term revenue story. A subscription product sold to trading firms offers recurring monthly income, but it also brings the business closer to the line between political speech, public information and tradable signals.

Trump Media is also still working to close a proposed merger with TAE Technologies, a nuclear fusion company. The original deal announcement projected a second-quarter close, but Trump Media has not filed the relevant paperwork, and McGurn said Monday that the company aims to complete the deal by year-end.

If Truth API expands beyond high-frequency firms, Trump Media would have a broader data business built around President Trump’s online audience. For the trading industry, that path would increase demand for political-information feeds; for the global macro picture, the effect would remain event-driven unless posts coincide with oil, trade or security shocks.

If congressional pressure forces disclosure of subscribers or changes to the product, Trump Media could lose some pricing power while data vendors and social platforms review how political posts are packaged for automated trading. If the TAE merger closes by year-end, the company’s investor pitch would broaden beyond social media and crypto; if it slips again, the $238 million quarterly loss will remain the clearer benchmark.