Traders pay up to $100,000 a month for faster access to Trump's posts
More than ten financial companies have already signed up for the new Truth API service, which gives traders faster access to posts on the Truth Social social network.
The subscription cost for high-frequency trading clients ranges from $60 to $100,000 per month. The service allows users to receive posts from influential accounts on the platform before regular users do.
Traders are particularly interested in Donald Trump, whose posts on Truth Social often influence financial markets.
Trump Media expects the Truth API to become a stable source of revenue. At the same time, the service has already raised ethical and legal concerns due to the ability to profit from faster access to the U.S. president’s statements.
The company’s financial results remain weak: in the second quarter, Trump Media reported a $238 million loss on revenue of just $1.7 million.
Source: BBC
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