US Lawmaker Asks SEC to Investigate Truth API, Questioning Possible Violations of Federal Securities Law

Odaily U.S. Representative Ritchie Torres has asked the U.S. Securities and Exchange Commission (SEC) to investigate whether Truth Social parent company Trump Media & Technology Group (TMTG)'s upcoming Truth API violates federal securities law, and to evaluate whether it involves issues of market manipulation, investor protection, and conflicts of interest.

Previously, it was reported that the Truth API will launch on August 1, providing paid clients with real-time data access to public posts from popular Truth Social accounts, with licensing fees reaching up to $100,000 per month. (Axios)