Wall Street Is Paying Up to $100,000 a Month to See Trump’s Posts First
At a Glance
- Bloomberg, Susquehanna and Jump Trading reportedly bought Truth Social’s fast-access service
- Price: $60,000 to $100,000 a month
- Timing edge: about 50 milliseconds
- Critics raise legal and ethical concerns, and a lawsuit is ongoing
A tiny head start on a US president’s posts could hand big trading firms an edge that everyday investors don’t have.
Truth Social has signed Bloomberg and two Wall Street firms for faster access to Trump’s posts, sources told Reuters. The service sells for up to $100,000 a month.
Key Details
The trading firms are Susquehanna International Group and Jump Trading, both high-frequency players. Trump Media announced the Truth API product in July. In August, it said it had “signed more than 10 customer agreements,” which Reuters could not confirm.
Trump Media says demand is significant and calls the reporting misleading. Bloomberg, Jump and Susquehanna declined to comment. Trump’s family trust owns 41% of the company.
Market Reaction
Trump’s posts can move markets. Oil futures sank in April after he announced an Iran war ceasefire on Truth Social. Trump Media shares are down more than 50% this year. The company is worth about $1.8 billion, down from roughly $8 billion at its March 2024 debut.
Why It Matters
Trading software can read a post, analyze it, and place a trade in thousandths of a second. A 50-millisecond edge can matter.
Senators Elizabeth Warren and Adam Schiff asked the SEC to investigate. In August, Intercept Media and the Freedom of the Press Foundation sued, arguing a paid feed for government information may be unconstitutional.
What to Watch
Keep an eye on the lawsuit, any SEC move, and whether more firms sign up. Reuters says it has no current plans to subscribe.
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Source: Reuters
