Torres Urges SEC Probe of Truth Social’s Planned Truth API

According to Axios, Rep. Ritchie Torres (D-N.Y.) asked the Securities and Exchange Commission to investigate whether Truth Social parent Trump Media & Technology Group’s plan to sell Wall Street firms real-time access to President Trump’s posts could violate federal securities laws. Torres urged SEC Chair Paul Atkins to review the Truth API before its Aug. 1 launch and assess possible securities law, market manipulation and investor protection issues, while also suggesting coordination with the Commodity Futures Trading Commission and the Office of Government Ethics. The product is slated to provide real-time access to publicly available posts from Truth Social’s top 10 trending accounts, and TMTG executives reportedly pitched licensing fees of up to $100,000 per month.