Trump sued over $100,000-a-month early-access offer to Truth Social posts
Summary
President Donald Trump faces a lawsuit over a subscription service that charges up to $100,000 a month for early access to posts on his social media platform, Truth Social. The legal complaint argues that this pay-for-privilege system could be corrupt and unconstitutional, as it gives select subscribers information before the public.Key Facts
- The lawsuit was filed in a US district court in New York by the Intercept and Freedom of the Press Foundation.
- The service, called Truth API, launched on August 1 and offers early access to posts from top accounts like President Trump and other senior officials.
- Subscribers pay $100,000 monthly or $60,000 a month with a three-year commitment.
- Paying customers reportedly include financial news organizations and high-frequency trading firms.
- Truth Media claimed the service is a way to generate high revenue from valuable market-related information.
- Critics say the service could give insiders unfair advantages and urged the Securities and Exchange Commission to investigate.
- The lawsuit seeks to stop the administration from using Truth Social as the only place for official announcements that are sold early to paying users.
- President Trump remains the largest shareholder of Trump Media, with a stake valued around $1 billion.
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