US Congressman demands SEC investigate Truth API, questioning potential violation of federal securities laws

US Representative Ritchie Torres has requested the Securities and Exchange Commission (SEC) to investigate whether Truth API, the upcoming product of Truth Social parent company Trump Media & Technology Group (TMTG), violates federal securities laws, and assess whether it involves issues such as market manipulation, investor protection, and conflicts of interest.

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