A number of Republican senators have come out against the plan to sell Wall Street early access to President Trump’s Truth Social posts, with Maine Sen. Susan Collins telling The Hill, “That does not sound appropriate.”
In July, the Trump Media & Technology Group announced its intention to launch “Truth API,” a data feed designed to give investment firms “real-time access to posts from the highest-ranking Truth Social accounts.” It was subsequently reported that Truth Social executives have considered selling certain interested Wall Street firms faster access to President Trump’s market-moving posts for anywhere between $60,000 and $100,000 per month.
Sen. Bill Cassidy (R-La.) slammed the plan, telling The Hill, “I think that’s wrong. It’s a form of buying access.” Cassidy is, notably, set to lose his Senate seat after this year’s fall midterms, following his primary loss earlier this year to challengers John Fleming and the Trump-backed Julia Letlow.
Collins echoed Cassidy’s sentiment, though she also reportedly noted that she was not aware of the details of the plan. Sen. Lisa Murkowski (R-Alaska) also questioned the idea, calling it “wild” and added, “Think it through. You are talking about the ability to move markets when you’re advancing information.”
“The president is the President of the United States and not in a position to use the position to enhance your own personal wealth,” Murkowski added. “I hope he’s not thinking about that.” Another GOP senator speaking on the condition of anonymity, told The Hill of the plan, “It doesn’t look right.”
Texas Senator John Cornyn, who lost his state’s Republican primary race earlier this year to another Trump-backed nominee, reportedly laughed when asked about the idea.
“I’m still trying to digest how to react to it,” Cornyn said, adding of Trump, “He’s engaged in all sorts of commercial enterprises including taking an interest in various companies in exchange for various federal grants and loans, which I think is problematic.”
Sen. Thom Tillis (R-N.C.), who is also set to depart his senate seat later this year, echoed his fellow Republicans’ thoughts.
“It just doesn’t make sense to me on its face,” Tillis said, joking, “Maybe we can do like NASCAR and maybe put [commercial] decals on our [Senate] benches and stuff.”
The Truth Social proposal comes at a time when many Democrats and everyday Americans are questioning the president’s personal and financial business interests while in office, following the release of his mandatory financial disclosure for the year 2025. Among the Democrats that have denounced Trump Media’s Truth API plan, which is set to launch on Aug. 1, has been Senate Minority Leader Chuck Schumer (D-N.Y.).
“Take Trump’s Truth API for $100,000 a month, Wall Street can buy early access to the president’s market-moving posts, and in milliseconds traders can make a fortune if they get this information first,” Schumer said of the proposal. “If a White House aide sold presidential announcements to traders, it would be an earth-shattering scandal, and now Trump makes it a subscription plan.”
“We’re talking about corruption,” Schumer concluded, adding, “Every day he gives us more proof.”
Trump Media, which is the parent company of Truth Social, responded to criticisms of the proposal.
“With no apparent sense of irony, certain politicians falsely accuse us of anti-free market behavior while pressuring businesses into boycotting a product,” a spokesperson for the company said. “All in a coordinated effort to harm a publicly traded company.”
According to FactSet, the president owns roughly 41% of the shares of Trump Media.
