Truth Social faces lawsuit over paid API access to Trump's posts

Trump Media & Technology Group is facing a federal lawsuit filed in Manhattan by The Intercept and the Freedom of the Press Foundation. The plaintiffs contend that the company’s new service, Truth API, which provides institutional investors and high-frequency traders early access to Donald Trump’s posts for $60,000 to $100,000 per month, is corrupt and unconstitutional. The service, which launched in early August, allows subscribers to view market-moving announcements before the general public.

The lawsuit follows reports that Trump Media recorded a $238 million loss between April and June, a significant increase from the previous year. While the company intends to pivot back to its core social media mission, interim CEO Kevin McGurn confirmed that over 10 customers have already signed up for the API service. Trump Media has dismissed the legal challenge, labeling the plaintiffs as left-wing activists seeking to censor the platform. The legal proceedings remain ongoing as the company attempts to monetize its user base amid its financial struggles.