News linked to both this project and an event.
Odaily News: Trump Media & Technology Group, the media company owned by U.S. President Donald Trump, has terminated the CRO treasury company initiative backed by Crypto.com and abandoned its broader digital asset partnership with Crypto.com. Trump Media, Crypto.com, and Yorkville Acquisition Corp. have agreed to terminate the related service agreements and digital asset product plans. The three companies stated that the decision was driven by the current market environment, as well as shifts in business and stakeholder priorities. The existing Truth Social Funds ETF will remain unchanged, and Trump Media will also abandon the direct integration of prediction markets into Truth Social, instead promoting Crypto.com's prediction market products to users through marketing partnerships. Trump Media interim CEO Kevin McGurn stated that the digital asset treasury company market has become increasingly competitive over the past year, and the prediction market business has likewise grown crowded. As a result, the company will scale back its related initiatives and pivot toward a distribution and data partner role.
Odaily News: U.S. Democratic Senator Alex Padilla plans to introduce new legislation that would prohibit presidents from offering paid services that provide users with early access to their public statements or social media posts. The bill targets a recently launched paid service by Trump Media & Technology Group that allows users to receive real-time alerts on posts from Trump and other figures on social platforms, some of which may involve information affecting financial markets.Alex Padilla stated that Trump's public remarks should not be sold as an "early trading advantage" to specific paid users. He believes that if market participants can gain faster notifications of presidential statements through payment, it could create an unfair information gap. As of now, Trump Media & Technology Group has not responded to the legislative proposal.
Odaily U.S. Representative Ritchie Torres has asked the U.S. Securities and Exchange Commission (SEC) to investigate whether Truth Social parent company Trump Media & Technology Group (TMTG)'s upcoming Truth API violates federal securities law, and to evaluate whether it involves issues of market manipulation, investor protection, and conflicts of interest.Previously, it was reported that the Truth API will launch on August 1, providing paid clients with real-time data access to public posts from popular Truth Social accounts, with licensing fees reaching up to $100,000 per month. (Axios)
: Trump Media & Technology Group (TMTG) is exploring the commercialization of real-time information feeds on its Truth Social platform, offering institutional clients high-speed access to Trump's posts at a price of up to $100,000 per month. Sources indicate that Trump Media & Technology Group has proposed a six-figure monthly fee plan to potential clients, allowing quicker access to the latest updates from U.S. President Donald Trump on Truth Social. The service is primarily aimed at institutional investors seeking to track policy signals, market sentiment, and the impact of political events with low latency.As one of Trump's primary channels for public communication, Truth Social's content has long been a focus of financial markets. Information such as Trump's policy views, tariff measures, and regulatory statements has repeatedly triggered volatility in stocks, foreign exchange, and cryptocurrency markets. However, it remains unclear whether the high-speed data service has secured any clients yet, or how many institutions are willing to pay the listed fees. (Financial Times)
Trump Media & Technology Group interim CEO Kevin McGurn stated that the company will launch a set of backend interfaces allowing financial services firms to pay for access to Truth Social’s real-time data. McGurn indicated that this marks the company's first expansion of its media business into the data licensing field. The newly launched Truth API will provide clients with real-time access to content published by the platform's top ten most popular accounts.McGurn added that clients willing to pay a higher fee in the future can obtain data access rights to more accounts. These accounts include key decision-makers who influence policy-making and geopolitical trends, such as U.S. President Donald Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino, and Secretary of Health and Human Services Robert F. Kennedy Jr. (Axios)