Trump-owned Truth Social to launch real-time data service for Wall Street.
1 hours ago
According to Axios, Trump Media & Technology Group will launch the Truth API, allowing financial services companies to pay for access to real-time data from Truth Social. This marks the company’s first expansion of its media business into the data licensing space, with an official launch planned for August 1. The Truth API will initially offer real-time posts from the platform’s 10 most popular accounts, including Donald Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino, and U.S. Secretary of Health and Human Services Robert F. Kennedy Jr., among others. The company may expand the range of accessible accounts in the future based on clients’ payment levels. Interim CEO Kevin McGurn stated that the company has already signed multiple clients ahead of the launch, including financial news organizations and high-frequency trading firms, though he did not disclose specific names. He noted that some institutions have long scraped Truth Social data and resold it to their own clients, and the API licensing process will be significantly faster than scraping. Trump Media is also discussing licensing Truth Social data to AI companies for use in training large language models. Last year, the company generated $3.68 million in advertising and subscription revenue, with a net loss of $712 million, a large portion of which stemmed from accounting expenses related to cryptocurrency investments.
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