Donald Trump got slapped with a lawsuit on August 12 inside a federal court in Manhattan all over Truth API the feed that shoots his posts straight to paying subscribers for as much as 100,000 a month. 🖤 Citizens for Responsibility and Ethics in Washington filed the complaint together with Yale Law School’s Media Freedom and Information Access Clinic the Public Integrity Project and Altshuler Berzon LLP. It labels the setup extraordinary corrupt and unconstitutional while insisting the First Amendment locks in equal access to presidential announcements and the Fifth Amendment stops anyone from charging wild sums for them then it asks the court to shut the program down. 🌑
Steep Monthly Fee For The Feed 💸
Trump Media rolled out Truth API on August 1 as a business to business subscription that hands low latency access to posts from the ten biggest Truth Social accounts including @realDonaldTrump @WhiteHouse and Vice President JD Vance. Access runs 100,000 a month or drops to 60,000 for anyone locking in three years. More than ten customers already jumped on board interim Chief Executive Officer Kevin McGurn noted in the company’s second quarter release. Direct buyers lean toward high frequency trading firms that gulp the posts to steer algorithmic moves McGurn shared with Axios in an interview after Trump Media filed with the SEC. He added the firm would start throwing obstacles at scrapers that grab the same posts for free. “We’re going to create a lot of friction for those folks that aren’t coming to us directly” McGurn stated. 📉
Prediction Market Shift Away From Old Crypto Ties 😼
McGurn mentioned during the earnings call that Trump Media is checking licensing the feed to prediction market operators while weighing deals with large language model developers. The complaint echoes those lines describing the prediction market idea as something that would help betting on the president’s announcements. Trump Media terminated its Trump Media Group CRO Strategy venture with Crypto.com on August 7 and Cronos (CRO) slid under 0.05 its lowest level since October 2023. Both sides now eye a marketing agreement that places Crypto.com’s prediction markets in front of Truth Social users instead of the earlier embedded integration that sparked a quick pump. McGurn noted the space already feels packed with big players around and Intercontinental Exchange has committed around 2 billion to Polymarket. 🕯️ 👁️ 🔮 💀
Just another echo from the void by iconofsin.eth 💖
