SEC urged to probe Trump Media's paid fast access to Truth Social posts for insider trading risks

Senators Elizabeth Warren and Adam Schiff have requested the U.S. Securities and Exchange Commission to investigate Trump Media & Technology Group's plan to sell faster access to President Trump's Truth Social posts through a new service called Truth API. They argue this service could enable insider trading and market manipulation, as it offers real-time feeds of market-moving posts for a high subscription fee, potentially benefiting wealthy insiders and high-frequency traders. The senators urge the SEC to conduct a legal review before the service launches on August 1. Trump Media, whose shares have dropped 80% since March 2024, has not commented on the inquiry, and the SEC declined to respond.