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.
