Senator Mark Warner urged major financial industry trade groups to publicly reject Trump Media's Truth API, a paid data feed offering early access to President Trump's Truth Social posts. Warner sent letters to six groups, including the Bank Policy Institute and the American Bankers Association, arguing the deal would let Trump personally profit from market-moving policy information. Sources at two large banks said their institutions had no plans to purchase the feed, citing political risk. Trump Media announced the product on July 16 with a scheduled August 1 launch, pricing it at up to $100,000 per month or $60,000 per month with a three-year commitment. The Donald J. Trump Revocable Trust owns roughly 41% of TMTG shares, managed by Trump's children.
Trump Media & Technology Group Corp.Senator Warner's urging of financial groups to reject Truth API threatens adoption of the product, reducing potential revenue.