President Trump was sued by nonprofit news groups today over Truth Social’s “Truth API” that sells real-time access to posts from Trump and other top users of the social network. Trump is profiting from selling preferential access to government information, the lawsuit said.
Trump’s social media company this month started charging customers up to $100,000 per month for the earliest access to posts that can have immediate impacts on financial markets. The first customers are mostly high-frequency trading firms that could benefit financially from getting official government news milliseconds before others.
“This scheme is profoundly corrupt. The President stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company,” the lawsuit said.
