Democrat senators ask US SEC to probe Trump Media’s fast feed sale

Trump Media unveiled a commercial data feed this month designed to provide trading firms accelerated access to posts from Truth Social's ten most-followed accounts, with Trump's account among them. The product, called Truth API, is scheduled to launch on August 1 and has already attracted advance customers, though their identities remain undisclosed. According to reports, the company has discussed pricing the service at up to $100,000 per month.

Warren and Schiff contend in their letter to SEC Chairman Paul Atkins that the arrangement undermines market integrity and everyday investors while enriching Wall Street insiders. They characterize it as an outrageous misuse of presidential authority for personal enrichment. Trump holds approximately 41 percent ownership of Trump Media through a trust managed by his children, positioning him to benefit directly from the paid-access model.

Trump Media's spokesperson rejected the senators' characterization, stating that Democrats either oppose free markets on ideological grounds or misunderstand the distinction between public and nonpublic information. The SEC confirmed receipt of the letter but declined further comment. The White House deferred inquiries to the company itself.

Historically, Trump's social media posts have influenced market movements, making rapid access to his statements potentially valuable to trading firms and hedge funds. The arrangement represents another instance of the president blending personal business interests with presidential responsibilities, raising ethical concerns among observers.