U.S. Lawmaker Urges SEC to Investigate Truth API, Questions Potential Violations of Federal Securities Laws

U.S. Representative Ritchie Torres has called on the U.S. Securities and Exchange Commission (SEC) to investigate whether Truth API, the upcoming product by Truth Social parent company Trump Media & Technology Group (TMTG), violates federal securities laws, and to assess issues related to market manipulation, investor protection, and conflicts of interest.

According to previous reports, Truth API is set to launch on August 1, offering paid clients real-time data access to public posts from popular accounts on Truth Social, with authorization fees reaching up to $100,000 per month. (Axios)