US President Donald Trump and his social media company, Trump Media & Technology Group (TMTG), were formally sued on August 12 in a New York federal court. The lawsuit alleges that Trump and the company used a high‑priced subscription service called "Truth API" to sell Wall Street financial institutions priority access to his posts on Truth Social regarding major national policy matters such as tariffs and war, in violation of the Constitution and amounting to the misuse of public office for private gain.
The plaintiffs include the Freedom of the Press Foundation and the media outlet The Intercept. The complaint states that TMTG launched the "Truth API" service this month, charging Wall Street institutions and traders between US$60,000 and US$100,000 per month (approximately HK$468,000 to HK$780,000) for the ability to receive the President's policy updates in milliseconds, allowing subscribers to execute stock, bond and other financial transactions based on that information. The plaintiffs argue that the President's sale of priority access to nationally significant policy news generated by his own office to private companies for profit constitutes "blatant corruption and unconstitutionality."
The lawsuit names Trump, TMTG, and White House Deputy Chief of Staff Daniel Scavino as defendants. The plaintiffs contend that Trump's practice of keeping exclusive information locked on Truth Social for up to six hours before releasing it to the public violates both the First Amendment (the right of the media and the public to fair access to public information) and the Fifth Amendment of the U.S. Constitution. The suit asks the court to order the termination of the paid API service.
In response to the lawsuit, TMTG issued a statement strongly rejecting the allegations, arguing that providing high‑frequency API data access is common practice across the industry, and accusing the plaintiffs of being "left‑wing radicals" attempting to weaponise the judicial system to censor the President and harm shareholder interests.
Related News:
Trump's 'nostalgic' old plane ride is actually to dodge Iranian assassination threat
Muted videos draw attention after Trump and White House accounts use Taylor Swift songs
Comment