World
'People will pay because they have to': Trump Media pitches $100,000 monthly fee for faster Truth Social posts
This Video Is Trending Right Now
Donald Trump’s social media company has discussed charging traders and investors as much as $100,000 a month for faster access to the US president’s posts on his Truth Social platform, according to a report by the Financial Times.Trump Media & Technology Group has allegedly quoted the six-figure monthly sum in talks with prospective buyers of the “Truth API” data service.Proprietary trading firms and hedge funds pay huge amounts for ultrafast data feeds because every millisecond counts when reacting to market-moving news. Trump often makes major announcements on Truth Social that trigger huge fluctuations across global markets.“People will pay because they have to,” an executive at a hedge fund told the FT. “If you’re behind on that news, you’ll get crushed.”
Trump’s posts move markets
Just before the Trump administration paused a number of tariffs last year, Trump posted on Truth Social that it was a “great time to buy.” The S&P 500 rallied 9.5 per cent shortly after.He has also backed specific stocks, complimenting companies such as Nvidia and Apple and helped their share prices. More recently, after the outbreak of the war with Iran, Trump posted on March 23 that there had been “very good and productive conversations with Iran,” sending oil prices falling sharply.
Wall Street backlash
The announcement of the API product sparked a backlash on Wall Street as traders and investors were not in favour of having to pay a company tied to the president for market-moving information.Social media platforms such as X also offer data feeds to algorithmic traders through financial terminals such as Bloomberg. TMTG expects the feed to provide coverage 24 hours a day, seven days a week.The general public would not notice the difference in speed between Truth API and updates on Truth Social itself because Truth API would give an advantage of “milliseconds” to customers of the feed.“Milliseconds is a big deal in this world, high-frequency trading firms and systematic quant hedge funds would definitely want this product,” the chief executive of a US market infrastructure company told the FT.
Turkey: Mohamed Salah’s agent clears air on player joining Besiktas
Meet Chelsie Anderson: American woman who accidentally became a Mexican drug cartel queen
Driver and Mate Found Dead in Nkawkaw Hotel, Police Begin Investigation
FG charges three suspects linked to Oyo school abduction
EU border farce goes on as users discover horror fault in facial recognition tech
Mary Habila: Why Umahi shouldn’t have spoken publicly – Sam Amadi
Norway: Horror as hundreds flee their homes as huge fire devours more than 100 homes
Society3 days ago35-Year-Old Man Breaks Down In Tears Like A Baby At Roadside After Wife Reportedly Goes Missing At Kasoa Market
- News3 days ago
Retiree’s Pension Jumps From N18,000 To N206,000 After Government Reform
- Investigation3 days ago
Suspected ISWAP logistics supplier arrested with food items bound for terrorists in Borno
- Investigation2 days ago
R Kelly officially asks President Trump to end his 30-year prison sentence for s 3x crimes
- National3 days ago
JUST IN: Senate to give N10million each to families of security operatives, teachers killed in Oriire rescue
- National2 days ago
2026 Ballon d’Or: Top 4 players to win award ahead of World Cup final
- Investigation3 days ago
âThereâs nothing more absurd than the âEmi Lokanâ sloganâ â Falz knocks slogan of current administration
- Investigation3 days ago
Why Oyoâs rescue model canât be replicated in the North â Ex-DSS Assistant Director-General
