(A machine readable advanced notice of Trump's foreign policy announcements, even if they are only milliseconds ahead of his standard announcements, would prove extremely profitable for algorithmic and high-frequency trading
firms who's AI systems would be able to instantly calculate the best trades or shorts to generate untold profits from the information. Whether it takes place days or milliseconds in advance, with AI high-frequency trading being the norm these days, it's still insider trading being sold as a subscription service by the guy sitting behind the Resolute desk in the White House.)
from Legis1
A Democratic-led push would prohibit companies from selling
prioritized access to government officials’ social media posts,
targeting Trump Media & Technology Group’s new Truth API service and
the information advantage it offers institutional investors.
Truth API provides financial institutions, news organizations and
high-frequency trading firms with a direct, machine-readable feed of
posts from President Donald Trump and other influential Truth Social
accounts. Access reportedly costs between $60,000 and $100,000 per
month. The service went live Aug. 1 and delivers posts within
milliseconds, potentially allowing trading algorithms to respond before
most investors receive push notifications or manually refresh the
platform.
The service does not provide posts before they are publicly
published. Trump Media says the posts are public when they enter the
API, while critics argue the speed advantage still creates a two-tiered
system for access to potentially market-moving presidential
communications.
Senate Democrats argue that allowing the president’s company to charge for
faster delivery of statements about tariffs, military actions,
companies and other matters affecting financial markets creates
conflicts of interest and could undermine market integrity. The
legislation would restrict the purchase, sale or exchange of prioritized
information derived from government officials’ social media
communications.
Truth API was announced July 16 and became available to institutional
customers Aug. 1. Trump Media described it as a licensed, real-time
data feed designed for organizations most affected by delays in
receiving information, including algorithmic and high-frequency trading
firms. The company said it had signed customers before the launch.
Sen. Alex Padilla (D-CA) introduced S. 5221 on Aug. 3 with Sens.
Richard Blumenthal (D-CN), Sheldon Whitehouse (D-RI) and Gary Peters
(D-MI) as original cosponsors, according to the Legis1 bill record.
The proposal would prohibit transactions involving nonpublic or
prioritized information derived from government officials’ social media
accounts.
The measure has been introduced but has not advanced through a
committee hearing or vote. I could not independently verify any official
Senate announcement scheduling it for floor consideration...
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