US Lawmaker Requests SEC to Investigate Truth API, Questions Potential Violations of Federal Securities Laws

U.S. Representative Ritchie Torres has requested that the Securities and Exchange Commission (SEC) investigate whether the upcoming Truth API from Trump Media & Technology Group (TMTG), the parent company of Truth Social, violates federal securities laws. He also asked the SEC to assess whether it involves issues related to market manipulation, investor protection, and conflicts of interest.

Previously, it was reported that the Truth API is set to launch on August 1, providing paying clients with real-time data access to public posts from popular Truth Social accounts. Licensing fees could reach up to $100,000 per month. (Axios)