SEC urged to probe Trump Media's Truth API on August 1 launch

Senators Elizabeth Warren and Adam Schiff have requested the SEC investigate Trump Media & Technology Group (TMTG) for potentially selling faster access to President Trump's Truth Social posts, which could violate laws against insider trading. TMTG's share price has fallen about 80% since its March 2024 trading debut. The new Truth API service is set to launch on August 1, 2025, and may charge up to $100,000 a month, which could benefit high-frequency trading firms. This raises concerns about the potential for market manipulation affecting ordinary investors and the integrity of capital markets.