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Truth Social plan to sell early access to Trump posts ‘makes me want to puke,’ CNBC reporter fumes
CNBC senior economics reporter Steve Liesman has strongly criticised Trump Media's new "Truth API", which allows paying subscribers to receive early access to former President Donald Trump's Truth Social posts before the general public sees them. Liesman said the scheme "makes me want to puke, literally puke," arguing that selling privileged access to posts capable of moving markets raises serious fairness and ethics concerns, given Trump's posts have previously triggered swings in stock prices. The row highlights wider unease about how commercial products built around a sitting or former president's social media output could create an uneven playing field for investors.
A Truth Social spokesperson pushed back robustly, dismissing Liesman's criticism as "ill-informed at best" and defending the API as a legitimate commercial product. The dispute centres on the perception that paying customers, likely including traders and financial institutions, could gain a timing advantage over ordinary members of the public in reacting to market-sensitive statements. The article does not detail the API's specific pricing or launch date, but frames the exchange as part of a broader debate over Trump Media's monetisation of the former president's online presence.
In short
- CNBC's Steve Liesman blasted Trump Media's paid "Truth API" for early post access.
- He said it "makes me want to puke," citing market fairness concerns.
- Truth Social called his criticism "ill-informed at best."
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Truth Social's API is a legitimate commercial service offering aggregated content delivery, analogous to premium financial news platforms that charge for early market alerts or analysis. Trump's posts remain publicly accessible to all users; paying subscribers simply receive notification earlier, a service distinction no different from standard premium news subscriptions. No information is permanently withheld, nothing prevents ordinary users from accessing the same posts once published, and this represents a standard practice for information services operating in competitive markets.
The case against
Selling early access to posts from Trump, whose statements have demonstrably moved financial markets, creates a two-tier information system that advantages wealthy traders over ordinary investors. This institutionalises unfair market access around content that materially affects public financial markets, contradicting the cornerstone principle of fair markets—equal access to information capable of moving prices. Monetising a timing advantage for subscribers sits uncomfortably close to the information asymmetries that securities regulations exist to prevent, regardless of technical legality.
Explained simply
Truth Social is a social media platform founded by former President Donald Trump after leaving Twitter. The platform's parent company, Trump Media, has now created a commercial product called the "Truth API" that gives paying subscribers early access to posts from Trump before they are released to the general public.
The concern centres on fairness and potential market impact. Trump's posts have previously caused significant movements in stock prices. If traders and financial institutions can pay to see these posts before others, they could gain a timing advantage that ordinary investors don't have, potentially giving them an unfair edge when reacting to market-sensitive statements.
A CNBC reporter has criticised the scheme, arguing it raises serious ethical questions. Trump Media's representatives have defended the API as a legitimate business product and dismissed the criticism as ill-informed. The dispute reflects a wider debate about how commercial ventures built around a former or sitting president's social media output should operate.