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Senate Democrats urge SEC probe of Trump Media's $100k Truth API
U.S. Senators Elizabeth Warren and Adam Schiff sent a letter to Securities and Exchange Commission Chairman Paul Atkins asking the regulator to investigate whether Trump Media & Technology Group’s plan to sell a paid data‑feed, the Truth API, violates securities law. The company has discussed charging as much as $100,000 a month for early access to posts from the ten most influential Truth Social accounts, including President Donald Trump’s. Warren and Schiff said the scheme “abuses the President’s office for personal benefit,” undermines ordinary investors, and enriches Wall Street firms that can trade on the information faster. The SEC confirmed receipt of the letter but declined further comment; Trump Media and the White House have not responded. Trump, who controls about 41% of the company through a family trust, would profit from the subscription model. The firm says it has already signed up customers ahead of a planned launch on Aug. 1.
Entities
Adam Schiff · Donald Trump · Elizabeth Warren · Trump Media & Technology Group · U.S. Securities and Exchange Commission
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The SEC confirmed receipt of the senators’ letter but declined to comment further. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 2 SOURCES] Trump Media says it has already signed up customers ahead of an August 1 launch of the Truth API. www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] Warren and Schiff said the plan abuses the President’s office for personal benefit, undermines investors and market integrity, and enriches Wall Street. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] Donald Trump owns about 41% of Trump Media through a family trust. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] Trump Media and the White House did not immediately respond to requests for comment. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] The Truth API would give trading firms fastest access to posts from the ten most influential Truth Social accounts, including Donald Trump. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] Trump Media discussed charging up to $100,000 per month for the Truth API data feed. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr
- [● 3 SOURCES] Senators Elizabeth Warren and Adam Schiff sent a letter to SEC Chairman Paul Atkins requesting an investigation of Trump Media's Truth API plan. www.aljazeera.com · www.newsbeast.gr · www.sofokleousin.gr