Republican senators are breaking with President Trump over a controversial plan by his social media company to sell high-speed access to his online posts to wealthy trading firms, a move they argue could give financial insiders an unfair edge and fuel accusations of corruption.
Trump Media & Technology Group (TMTG), which operates Truth Social, recently unveiled what it calls “Truth API” — a direct data feed offering investment firms “real-time access to posts from the highest-ranking Truth Social accounts.” Business outlets including Reuters and CNBC reported that executives discussed charging Wall Street traders up to $100,000 a month for faster access, with a discounted three-year contract priced at $60,000 monthly.
Sen. Bill Cassidy (R-La.), who lost his primary to a Trump-backed candidate, said the plan is fundamentally wrong. “It’s a form of buying access,” he told reporters, adding that families “struggling to make ends meet” would question why the system rewards those already well-off. Sen. Susan Collins (R-Maine), facing a competitive reelection, called the proposal “not appropriate,” while Sen. Lisa Murkowski (R-Alaska) warned it raises serious conflict-of-interest questions. “Think it through. You are talking about the ability to move markets when you’re advancing information,” Murkowski said, likening the scheme to a “pay for play” system. She urged the president not to use his office for personal enrichment, calling the idea “wild.”
The backlash comes as Democrats intensify their push to label Trump’s business dealings as corrupt. Senate Democratic Leader Chuck Schumer (N.Y.) said the plan proves the point: “If a White House aide sold presidential announcements to traders, it would be an earth-shattering scandal, and now Trump makes it a subscription plan.” Sen. Mark Warner (D-Va.) circulated a letter urging banks and trading firms to boycott the service, arguing it “presents a serious risk to market integrity” and undermines public confidence in fair dissemination of market-moving government information.
Even some retiring GOP lawmakers voiced alarm. Sen. Thom Tillis (R-N.C.), who has clashed with Trump, warned the plan gives Democrats ammunition for the midterms. “Just the appearances are troubling,” he said, “before you even get into any of the ethical or legal aspects of it.” Sen. John Curtis (R-Utah) said he wouldn’t personally pursue such a deal, though he stopped short of declaring it illegal.
TMTG responded with a statement from spokesperson Shannon Devine, who accused critics of hypocrisy. “With no apparent sense of irony, certain politicians falsely accuse us of anti-free market behavior while pressuring businesses into boycotting a product,” she said, framing the API as a market-driven response to demand. The statement appeared aimed at Warner’s letter, which urged financial institutions to reject the service.
The controversy also highlights Trump’s ongoing financial ties to his social media venture. Securities filings from December 2024 show Trump transferred his roughly $4 billion stake in TMTG into a trust controlled by Donald Trump Jr., who reportedly holds sole voting and investment power. Critics argue this arrangement blurs the line between presidential duties and private profit. The episode adds to a pattern of ethics questions surrounding Trump’s second term, including a high rate of senior staff departures that has raised governance concerns. Meanwhile, Trump’s push for new “Trump Accounts” in Georgia shows his continued focus on personal branding amid broader political headwinds.
As midterm elections loom, the Truth API plan threatens to unite Trump’s critics across the aisle. Murkowski summed up the unease: “The president is the president of the United States and not in a position to use the position to enhance your own personal wealth. I hope he’s not thinking about that.”
