During an appearance on CNBC's 'Squawk Box,' Kevin McGurn stated that subscriptions for the Truth API service have risen to the mid-teens, up from 'more than 10' agreements reported two weeks prior.
The service, which costs up to $100,000 per month, allows companies to receive timely updates from President Trump's Truth Social account, raising concerns among critics who argue it enables wealthy firms to gain an unfair advantage by trading on potentially market-moving information.
The Truth API was launched on August 1, and Trump, as a significant shareholder in Trump Media & Technology Group (TMTG), has his stake held in a revocable trust. This development highlights the ongoing debate over the intersection of social media, politics, and market dynamics