Donald Trump's media company, Trump Media & Technology Group (TMTG), announced on Thursday a new service called Truth PSI that will charge for high-speed access to posts from top Truth Social accounts, potentially including those of President Trump himself. Critics have denounced the move as "brazen corruption," arguing it exploits the presidency for personal profit.
How Truth PSI Works
The service allows Wall Street trading firms and other institutions to receive posts from the highest-ranking Truth Social accounts before the general public. This early access could enable them to profit from subsequent market movements in stocks, bonds, and interest rates based on Trump's announcements. Trump, who has 12.9 million followers on the platform, regularly uses Truth Social to make major policy statements that affect markets, such as posts about tariffs and the Iran war.
Kathleen Clark, an expert in government conflict of interest rules at Washington University School of Law, said: "He's selling expedited, privileged access to information about what he is doing as president. It's yet more brazen corruption, an improper exploitation of government power to enrich himself." The Trump family company declined to comment on whether the feature profits from the presidency, and TMTG did not respond to questions about whether Trump's posts would be excluded.
Financial Impact and Market Reactions
Trump's posts have historically moved markets. In a single day last year, he made over 100 posts as global stock markets fell sharply amid fears of a "Trumpcession." His posts about Iran are particularly impactful due to concerns over oil prices and inflation. TMTG's stock has plunged more than 70% since Trump took office, erasing $6 billion in shareholder wealth. On Thursday, the stock rose 0.6% to $9.63, down from $40 before his inauguration.
The press release did not specify pricing for Truth PSI. TMTG's new CEO, Kevin McGurn, described it as part of a "strategy to monetise proprietary assets" and expected it to become a "meaningful, ongoing source of revenue." The company plans to launch the service next month and has already signed up customers.
Conflict of Interest Concerns
Clark noted that conflict of interest laws bar other federal officials from profiting off their office by selling access to their decisions, but the president and vice president are exempt. However, she emphasized that past presidents have voluntarily divested or placed assets in blind trusts. Trump has refused to do so, maintaining his ownership in TMTG and other ventures.
Trump indirectly owns about 53% of TMTG through a trust, giving him a paper fortune of roughly $1.41 billion based on the company's current $2.67 billion market capitalization. His 2024 financial disclosure showed $2.2 billion in total income, including $1.4 billion from cryptocurrency businesses and $500 million from a controversial deal with an investment firm tied to the United Arab Emirates.
Broader Business Moves
TMTG has been diversifying into cryptocurrency, financial services, and nuclear fusion to boost its stock price. It recently replaced former CEO Devin Nunes with Kevin McGurn, a seasoned media executive. The Truth PSI initiative follows similar paid access models on rival platforms, but with the key difference that Trump is the most popular poster and the major shareholder.
