Trump sued over Truth Social advance access sale

Trump sued over Truth Social advance access sale Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Key Points President Donald Trump was sued over the controversial sale of advance notifications of his posts on Truth Social. "This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it," the suit in a federal court in New York says. Truth Social's parent company, Trump Media, announced in July that it would offer subscribers to Truth API who paid up to $100,000 each month early access to "market-moving" posts from Trump and other people who use the platform. The suit was filed by The Intercept Media, a news organization, and by the Freedom of the Press Association, a non-profit group. US President Donald Trump uses a cellphone aboard Marine One before it departs Leesburg Executive Airport in Leesburg, Virginia, on April 24, 2025. Alex Wroblewski | Afp | Getty Images President Donald Trump was sued on Wednesday over the controversial sale of advance notifications of his posts on Truth Social. The lawsuit, filed in U.S. District Court in Manhattan, notes that Trump's posts on his own social media site often move financial markets. "President Donald Trump is charging $100,000 per month for advance access to his official government announcements on Truth Social, the social media platform he owns," the suit says. "This scheme is extraordinary, corrupt, and unconstitutional, and Plaintiffs bring this case to stop it." The suit was filed by The Intercept Media, a news organization, and by the Freedom of the Press Association, a non-profit group. Truth Social's parent company, Trump Media , announced in July that it would offer subscribers who paid up to $100,000 each month early access to "market-moving" posts from Trump and other people who use the platform. The service is known as Truth API. "This scheme is profoundly corrupt," the suit says. "The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company. During a quarterly earnings conference call on Monday, Trump Media CEO Kevin McGurn said Truth API "provides machine-readable feeds of publicly available Truth posts from the platform's top accounts in milliseconds." "Our customers will get published and publicly available posts fractionally faster," McGurn said. McGurn also said during that call that Trump Media to date had signed more than 10 customer agreements for Truth API, "generally in the range of $60,000-$100,000 a month." McGurn said that the company was in active discussions with hyperscalers and some large news organizations and developers of large language models about the service. "Looking ahead, we expect the next phase of the API to include broader third-party distribution, for example, news feeds, financial data terminals, and specialty publications, which we believe will bring more visibility to this business over time," he said. In addition to Trump, the suit names as defendants the president's executive assistant, Natalie Harp, who is known to post on Truth Social for Trump; White House Deputy Chief of Staff Dan Scavino; the executive office of the president, and the White House Office. This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.