Trump’s Truth Social has attracted high-speed trading firms to its Truth API, offering faster access to posts for fees of up to US$100,000 monthly.
WASHINGTON: Donald Trump’s social media platform Truth Social has signed up more than 10 customers for a controversial service offering faster access to posts by the United States (US) president, reported German Press Agency (dpa).
Trump Media & Technology Group (TMTG), the parent company of Truth Social, said on Monday that most of the customers are firms specialising in high-speed trading.
Customers typically pay between US$60,000 and US$100,000 a month, TMTG acting chief executive Kevin McGurn said on a conference call.
The company is also in talks with potential customers in areas including artificial intelligence.
Trump routinely uses Truth Social to make major announcements, including on tariffs and military conflicts.
Faster access to his posts can give investors an advantage, particularly in automated trading, where fractions of a second can matter.
It is not officially known how much faster the posts reach paying customers’ computers.
The plan to sell faster access to posts by Trump and other prominent users through a service called Truth API has drawn criticism in the US.
It has also raised questions about whether access to official government information is effectively being privatised.
For TMTG, the service could provide a lucrative new source of revenue.
Revenue rose 89 per cent year-on-year to US$1.7 million in the latest quarter, but the company reported a net loss of US$238.1 million, largely due to losses on investments including cryptocurrencies.
