{"id":21612,"date":"2026-07-30T03:41:37","date_gmt":"2026-07-29T22:41:37","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=21612"},"modified":"2026-07-30T03:41:37","modified_gmt":"2026-07-29T22:41:37","slug":"senators-urge-sec-to-investigate-truth-social-plan-to-sell-access-to-wall-street","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=21612","title":{"rendered":"Senators Urge SEC to Investigate Truth Social Plan to Sell Access to Wall Street"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<\/p>\n<div id=\"article-content\">\n<p>Two influential Senate Democrats are pushing back on the nearly unfathomable idea that a company owned by the sitting U.S. president can sell Wall Street early access to that president\u2019s thoughts and actions.<\/p>\n<p>Sen. Elizabeth Warren (D-MA), ranking member of the Senate Banking Committee, and Sen. Adam Schiff (D-CA), a member of the Senate Judiciary Committee, called on Securities and Exchange Commission Chair Paul Atkins to \u201cimmediately\u201d investigate a forthcoming subscription model from the company behind President Donald Trump\u2019s Truth Social that plans to sell extra-fast access to the most influential posts on the platform to high-paying clients.\u00a0<\/p>\n<p>The subscription appears to be founded in the premise that Trump\u2019s social media posts influence financial markets and investors. Providing high-paying institutional customers first dibs on that market-moving information, the <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/2026.07.28%20Letter%20to%20SEC%20re%20Truth%20Social%20API.pdf\" target=\"_blank\">senators said in the letter<\/a>, could give them a trade advantage and further exacerbate the divide between a hyper-wealthy investment class and everybody else.<\/p>\n<p>\u201cThe Trump Administration is the most corrupt in the nation\u2019s history, and questions about inappropriate insider access to information about its policies and actions have raised questions on multiple occasions,\u201d the letter, dated Tuesday, reads.\u00a0<\/p>\n<p>The Truth Social fast-access plan, though, \u201crepresents a shocking abuse of the office of the President and the trust of the American public for his personal gain.\u201d<\/p>\n<p>On July 16, Trump Media and Technology group announced Truth API, the \u201cbusiness-to-business\u201d subscription model that would offer banks and trading firms \u201creal-time\u201d access to Trump\u2019s market-moving musings on Truth Social. A press release about the program boasted that it would feed subscribers the platform\u2019s most influential posts \u201cwithin milliseconds.\u201d And the company \u2014 41% of which, according to the senators\u2019 letter, is held by Trump\u2019s revocable trust \u2014 didn\u2019t shy away from the fact that this scheme will be profitable. It mulled charging as much as $100,000 a month for the subscription, <a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/trump-media-pitched-100000-monthly-fee-fast-feed-us-presidents-posts-ft-reports-2026-07-17\/\" target=\"_blank\">according to a report from Reuters<\/a>.<\/p>\n<p>\u201cAs adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders,\u201d TMTG interim CEO Kevin McGurn said in a mid-July release.<\/p>\n<p>The plan is set to launch by August 1 and immediately drew concerns about insider trading. One former SEC official <a href=\"https:\/\/talkingpointsmemo.com\/news\/truth-socials-new-plan-to-make-money-may-be-egregious-but-will-face-little-oversight\" target=\"_blank\">told TPM<\/a> the plan should at least draw scrutiny from Congress and the SEC.\u00a0<\/p>\n<p>Warren and Schiff are calling on the SEC to provide an analysis of the TMTG plan as it relates to laws about insider trading and market manipulation, to detail plans for enforcement in the event of market manipulation relating to this subscription, and to share legal tools available for retail investors.<\/p>\n<p>Warren and Schiff\u2019s letter to Atkins goes on to list the well-documented ways in which stock performance has changed based on Trump\u2019s social posts: Citigroup outperformed other banks the day Trump made a Truth Social post praising the bank, the letter said. After Trump used Palantir Technology\u2019s ticker symbol to celebrate the Defense Department contractor\u2019s equipment, the company\u2019s stock shot up, it noted. And \u201cIntel shares proceeded to jump 3%\u201d hours after Trump wrote \u201cIntel Stock continues to rise\u201d on Truth Social.<\/p>\n<p>\u201cUltimately,\u201d the letter says, \u201cTrump Media\u2019s new service threatens to undermine the integrity of capital markets.\u201d<\/p>\n<\/p><\/div>\n<p><script type=\"text\/javascript\">\n    window.fbAsyncInit = function() {\n      FB.init({\n        appId: \"101800829865996\",\n        xfbml: true,\n        version: ' v2.6'\n      });\n      window.fbAsyncInit.__didInit = true;\n    };\n    (function(d, s, id) {\n      var js, fjs = d.getElementsByTagName(s)[0];\n      if (d.getElementById(id)) {\n        return;\n      }\n      js = d.createElement(s);\n      js.id = id;\n      js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n      fjs.parentNode.insertBefore(js, fjs);\n    }(document, 'script', 'facebook-jssdk'));\n  <\/script><br \/>\n<br \/><script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two influential Senate Democrats are pushing back on the nearly unfathomable idea that a company owned by the sitting U.S. president can sell Wall Street early access to that president\u2019s thoughts and actions. Sen. Elizabeth Warren (D-MA), ranking member of the Senate Banking Committee, and Sen. Adam Schiff (D-CA), a member of the Senate Judiciary&#8230;<\/p>\n","protected":false},"author":1,"featured_media":21613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/talkingpointsmemo.com\/wp-content\/uploads\/2026\/07\/GettyImages-2238009670.jpg","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-21612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-political-news"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/21612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21612"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/21612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/21613"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}