Business & Finance
Trump Media CEO defends premium service providing faster access to president's posts
Interim CEO Kevin McGurn says client sign-ups for the $100,000 monthly Truth API feed have grown into the mid-teens.
The short version
- Trump Media interim CEO Kevin McGurn defended the company's Truth API service, which charges up to $100,000 monthly for faster access to President Donald Trump's Truth Social posts.
- McGurn reported that paid subscriber agreements have increased to the mid-teens since the service launched on August 1.
- Critics contend the premium access allows well-funded institutional firms an unfair advantage to execute trades on market-moving presidential statements.
Key facts
- Trump Media interim CEO Kevin McGurn stated that subscriber agreements for the Truth API service have reached the mid-teens, up from more than 10 reported two weeks prior.[CNBC]
- The Truth API service went live on August 1 and costs subscribers up to $100,000 per month.[CNBC]
- President Donald Trump is a major shareholder in Trump Media, holding his stake via a revocable trust.[CNBC]
What remains uncertain
- The exact identities of the paying subscribers using the Truth API service have not been disclosed.[CNBC]