Trump’s $100,000 Truth API Faces SEC Investigation Demand: Two Precedents Show How it Ends
Senators Elizabeth Warren and Adam Schiff asked the US Securities and Exchange Commission (SEC) to investigate Truth API, the Trump Media & Technology Group feed that sells Wall Street firms early access to President Donald Trump's Truth Social posts.
Trump Media has discussed charging between $60,000 and $100,000 a month. The service goes live on August 1, leaving the agency three days to act.
Why Warren and Schiff Want an SEC Investigation Into Truth API
Warren is the ranking Democrat on the Senate Banking Committee. Schiff sits on Judiciary. They wrote to SEC Chair Paul Atkins on July 28.
Their argument concerns latency, not content. Truth API routes posts from the 10 most influential Truth Social accounts to paying clients first.
Trump owns roughly 41% of Trump Media through a trust his children oversee. He profits from every subscription.
The senators cited his record of naming tickers, including Citigroup, Intel and Palantir. A CNN review found he had bought shares before praising 21 companies. Researchers have separately flagged trades spiking before announcements.
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