The Intercept and the Freedom of the Press Foundation went to court in New York on Wednesday to shut down Truth API, a subscription launched this month by Trump Media and Technology Group, the Nasdaq-listed company behind Truth Social.
The subscription provides privileged access to US President Donald Trump's social media posts straight to trading firms, sending them fractions of a second before they appear on the public timeline, which is enough time for high-frequency algorithms to execute thousands of orders before others process the information.
Contracts run from about $60,000 (€52,000) to $100,000 (€86,600) a month and cover the platform's 10 most-followed accounts, among them US President Donald Trump, the White House itself, US Vice President JD Vance, FBI Director Kash Patel and Health Secretary Robert F. Kennedy Jr.
More than 10 customers have signed up, mostly high-frequency trading firms, according to company executives.
Interim CEO Kevin McGurn told an earnings call on Monday that subscribers receive news "fractionally faster" than everyone else, having earlier pitched it as a real-time channel for the platform's most market-moving posts.
