US President Donald Trump's plan to offer faster access to his Truth Social posts to investment firms has triggered criticism from several Republican senators, who say the move raises ethical questions and could give wealthy traders an advantage in financial markets.
Trump Media & Technology Group (TMTG), the parent company of Truth Social, announced last week that it would launch Truth API, a data service offering investment firms "real-time access to posts from the highest-ranking Truth Social accounts."
Reports from Reuters and CNBC said Truth Social executives discussed charging Wall Street firms and other investment companies up to $100,000 per month for quicker access to Trump's posts. A discounted option of $60,000 per month was also reportedly discussed for companies willing to sign a three-year agreement.
What is Trump's Truth Social access plan?
The proposed Truth API service is designed to provide financial firms with faster access to posts from major Truth Social accounts, including Trump's. Critics argue that early access to posts from a sitting president could be valuable if those messages influence markets.
Republican senators who are usually aligned with Trump questioned whether the plan could create the perception of special treatment for wealthy investors.
{{/usCountry}}Republican senators who are usually aligned with Trump questioned whether the plan could create the perception of special treatment for wealthy investors.
{{/usCountry}}"I think that's wrong. It's a form of buying access," Sen Bill Cassidy (R-La) said, arguing that ordinary Americans may question why companies with more resources should receive advantages.
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Cassidy said families "struggling to make ends meet" could ask, "Why would you reward those who are already doing well when we should do more for those who are struggling?"
Sen Susan Collins (R-Maine) also expressed doubts about the proposal, saying she did not know all the details but adding, "That does not sound appropriate."
Why are GOP senators raising ethics concerns?
Sen Lisa Murkowski (R-Alaska) said selling access to information that could potentially move markets raises concerns about conflicts of interest. "Think it through. You are talking about the ability to move markets when you're advancing information," Murkowski said.
She called the proposal "wild" and questioned whether the presidency should be used to increase personal wealth. "The president is the president of the United States and not in a position to use the position to enhance your own personal wealth," she said.
Sen Thom Tillis (R-NC), who has previously clashed with Trump and is retiring at the end of the year, said the optics alone were troubling. "Just the appearances" are concerning, Tillis said, before considering possible legal or ethical issues. "It just doesn't make sense to me on its face," he added.
How has Trump Media responded?
TMTG defended Truth API, arguing that the service is a response to market demand and accusing critics of attacking a publicly traded company.
"With no apparent sense of irony, certain politicians falsely accuse us of anti-free market behavior while pressuring businesses into boycotting a product, all in a coordinated effort to harm a publicly traded company," TMTG spokesperson Shannon Devine said.
The company’s response came after Sen Mark Warner (D-Va) urged banks and trading groups not to purchase faster access to Trump's posts, warning that the arrangement could hurt confidence in fair markets.
Democrats have also criticized the proposal. Senate Democratic Leader Chuck Schumer (D-NY) said the plan would allow traders who pay for access to potentially profit from information before it reaches the public.
The controversy comes amid scrutiny over Trump's business activities while in office, with critics questioning whether his political position and private financial interests are becoming increasingly intertwined.