Trump Media & Technology Group (TMTG) is set to launch the Truth API on August 1, providing financial institutions with quicker access to posts from influential accounts on Truth Social, including that of former President Donald Trump. This service aims to cater to banks and hedge funds that operate in high-frequency trading environments.
Details of the Truth API Service
The Truth API promises millisecond delivery of posts from the platform's ten most impactful accounts. TMTG reports that the service is designed for companies where even the briefest delay in receiving market-moving information could impact trading activities. In addition to live updates, the API will also offer 24/7 coverage and an archive of posts dating back to 2022. This feature allows firms to analyze historical sentiment and develop trading models.
According to Interim CEO Kevin McGurn, this initiative marks TMTG's first foray into data licensing and is expected to become a recurring revenue source. He highlighted that “markets already move on Truth Social posts,” emphasizing the importance of rapid access for institutional clients.
Impact of Trump’s Social Media Activity
Trump's posts have historically influenced market movements. For instance, on April 9, U.S. stocks surged after he announced a 90-day pause on new tariffs through a Truth Social post, which preceded a nearly 10% rise in the S&P 500 the largest one-day gain since 2008. Notably, some policy announcements have appeared exclusively on Truth Social instead of Trump's X account, solidifying its role as a valuable resource for traders tracking the administration.
TMTG aims to protect its content, having observed that firms have been scraping Truth Social data without authorization for several months. The upcoming launch will help ensure that the information flow is regulated and proprietary.
This material is informational and should not be considered financial advice.
