A new era on the Truth Social platform
On the Truth Social platform owned by Donald Trump, companies and investors will have to pay for real-time access to posts from high-profile accounts starting next month.
12punto
Trump Media & Technology Group, the company behind Truth Social, announced that it will launch a dedicated data feed for businesses. Institutions, particularly in the financial sector, that carry out high-frequency and algorithm-based trading will be able to obtain real-time information through this system. The platform’s "Truth API" service, developed within this scope, is planned to be made available on August 1.
Donald Trump is the most influential figure on Truth Social, with about 12.9 million followers. On the platform, not only Trump but also other White House officials have large numbers of followers. While current president Trump is Trump Media’s largest shareholder, the management of the company’s shares is carried out by his son, Donald Trump Jr.
Trump Media’s interim CEO Kevin McGurn said in a statement about the new service, “We expect Truth API to provide a significant revenue stream.” However, details were not shared on how much the service will cost or to what extent access speed will differ between subscribers and ordinary users.
LICENSED ACCESS EXCLUSIVE TO CORPORATE ACCOUNTS
In information provided by Truth Media, it was emphasized that Truth API was developed especially for companies operating in the finance and technology sectors. Until now, professional institutions seeking to follow posts by important accounts had to collect data through manual methods. Under the new process, licensed access will provide a real-time, low-latency data feed.
It was stated that the service has initially been offered to some customers for promotional purposes, and that different corporate partners will be included in the system in the coming weeks. Thanks to the API, corporate customers will be able to access posts from the most popular accounts on Truth Social 24/7, within milliseconds. Access will also be provided to an archive of posts dating back to 2022.
For financial institutions that have to respond to instant market movements in particular, receiving information in a timely manner is critically important. The aim is for such companies to be able to benefit to the fullest potential from rapid information changes on platforms such as Truth Social.
How the new Truth API will create a revenue model for the company and what kind of impact it will have on the market are expected to become clear in the coming months.