Donald Trump © AP / Alex Brandon
The Financial Times reports this, citing sources familiar with the company’s negotiations with potential buyers of the Truth API service, according to “Economic Truth.”
The service was intended to provide traders and investors with an ultra-fast data feed from the platform. For trading firms and hedge funds, even a few milliseconds can make a difference when reacting to Trump’s statements, which often cause sharp fluctuations in global markets.
The announcement of the API’s launch drew a negative reaction on Wall Street due to the prospect of paying a company linked to the president for faster access to potentially market-moving information.
“People will pay because they’ll have to. If you fall behind on this news, you’ll get crushed,” the head of a hedge fund told the FT.
The Trump family owns a controlling stake in TMTG, which owns Truth Social. The company did not respond to the publication’s requests for comment.
