Trump media firm plans to sell high speed access to Truth Social posts, possibly Trump's own

Donald Trump’s Truth Social looks set to hit Wall Street in a move that could give him stock worth billions of dollars on paper. (John Minchillo/AP Photo)

NEW YORK — U.S. President Donald Trump’s media company is planning to charge for special high-speed access to Truth Social posts, including possibly his own affecting national security and financial markets.

The move announced Thursday would allow Wall Street trading firms and other institutions to get news from top Truth Social contributors in milliseconds so they could profit off subsequent moves in stocks, bonds and interest rates.

Called Truth PSI, the new service comes amid a flurry of other deals by Trump and his family company that critics say are exploiting the presidency for profit. It follows similar offers of paid access on rival platforms, though with one key difference: The most popular Truth Social poster is the president himself and, as the biggest shareholder of the public traded parent company, would directly benefit.

“He’s selling expedited, privileged access to information about what he is doing as president,” said Kathleen Clark of Washington University School of Law and an expert in government conflicts of interest rules. “It’s yet more brazen corruption, an improper exploitation of government power to enrich himself.”

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The Trump family company declined to comment about whether the new feature is profiting off the presidency. Truth Social’s public parent, Trump Media & Technology, did not respond to emailed questions, including whether the president’s posts will be excluded from the offering.

A press release states it would allow traders to see “the highest-ranking Truth Social accounts” ahead of others. The president has the most followers -- 12.9 million -- followed by his oldest son, Don Jr. and, close behind, his son Eric.

The release did not say how much customers would be charged.

In the past few months, Trump has announced major decisions and musings on his platform including posts about the Iran war, tariffs and the U.S. Immigration and Customs Enforcement crackdown in U.S. cities. The Iran posts in particular are impactful because investors are worried that higher oil prices will continue to stoke inflation and possibly force the Federal Reserve to raise interest rates.

Stock in Trump Media & Technology has plunged 70 per cent since the president took office last year, erasing US$6 billion in shareholder wealth. Those losses, along with billions more of investor losses tied to new Trump family crypto businesses, have drawn scrutiny after Trump’s annual disclosure of his financial holdings shows he took in more than $1 billion in revenue last year in the same companies and offerings.

Conflict of interest laws would bar U.S. government officials from owning a company that profits off their office by selling access to their decisions through public posts, says Washington University’s Clark. But the president and vice-president, she notes, are excluded from the provision.

Despite that, all presidents since the law was passed decades ago have acted as if it applied -- selling individual stocks, dumping business holdings or putting their financial assets in a blind trust so they wouldn’t know what was being bought and sold on their behalf while they wielded power -- but Trump has refused.

Trump Media has been trying to lift its stock price recently by branching into various businesses, including crypto, financial services and even nuclear fusion. It recently replaced its longtime CEO, former Congressman Devin Nunes, with a seasoned media executive, Kevin McGurn.

In the release, McGurn described the Truth PSI move as part of a “strategy to monetize proprietary assets.” He added that he expected it to become a “meaningful, ongoing source of revenue.”

Trump Media said that it plans to start the service next month and that it has already signed up customers.

The stock rose 0.6 per cent to $9.63 on Thursday. Before Trump took office last year, it closed at $40.

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Bernard Condon, The Associated Press