The grift. It never stops.
Trump Media to sell instant access to 'market-moving' social posts
41–50 of 125 posts
Re: Trump Media to sell instant access to 'market-moving' social posts
#42If you pay to have the info a few seconds before everyone else, does this make it insider trading?
The issue is the conflict of interest in POTUS' office. A news agency giving high speed access to news ostensibly just reports news, doesn't make them. The office of the POTUS literally makes the news, even more so today than in the past.
The markets are very headline driven these days because Trump is a prolific poster and is highly unpredictable. This is basically him selling preferential access to market moves that he himself generates.
It's truly an unprecedented level of grifting happening.
Re: Trump Media to sell instant access to 'market-moving' social posts
#43> The new commercial data feed, named Truth API, promises to deliver posts to paying institutional clients in "milliseconds". ... > The company, which launched its social media app in 2022, said some firms have been copying its data for months without permission. > McGurn warned that Trump Media will soon block these methods, forcing firms to buy the official feed instead. This looks like it is monetizing and organiz…
There is literally nothing else of value on Truth Social except the president's posts. And those are considered official government communications. There's a legal ruling about that from the time of the first Trump administration.
So the US president has created a wrapper corporation that sells early access to official government communications. It doesn't matter if it's only milliseconds, that's enough for trading systems to make money.
How can any of this be legal in a democracy?
Re: Trump Media to sell instant access to 'market-moving' social posts
#44Yet if the average corporate person does insider trading it comes with a prison sentence not pricing. It’s wild how banana republic level corrupt the US is all of a sudden. Really went from 0 to 100 in months
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Re: Trump Media to sell instant access to 'market-moving' social posts
#45> The new commercial data feed, named Truth API, promises to deliver posts to paying institutional clients in "milliseconds". ... > The company, which launched its social media app in 2022, said some firms have been copying its data for months without permission. > McGurn warned that Trump Media will soon block these methods, forcing firms to buy the official feed instead. This looks like it is monetizing and organiz…
There is literally nothing else of value on Truth Social except the president's posts. And those are considered official government communications. There's a legal ruling about that from the time of the first Trump administration. So the US president has created a wrapper corporation that sells early access to official government communications. It doesn't matter if it's only milliseconds, that's enough for trading s…
I agree. I think the first part is the surprising part.
The second makes sense for an arms-length news service.
Re: Trump Media to sell instant access to 'market-moving' social posts
#46Re: Trump Media to sell instant access to 'market-moving' social posts
#47Yet if the average corporate person does insider trading it comes with a prison sentence not pricing. It’s wild how banana republic level corrupt the US is all of a sudden. Really went from 0 to 100 in months
Not sure what "average corporate person" means, but if you're just a random dude and you trade on your golf buddies tips, no one is going to throw you in jail. Very few people get charged a year, like dozens. I'm sure >99.9% of get away with it. I think it's often political or targeted.
The weirdness here comes from the president owning a social media company. I think they're playing up how markets move on their posts for obvious reasons. But social media companies likely sell priority access. They're called enterprise licensing deals. Same with news media, like Bloomberg, Dow, Reuters.
This isn't "insider trading" its publicly available information. The idea that the "little guy" is somehow screwed over by this is just silly.
https://www.barrons.com/advisor/articles/insider-trading-fbi...
Re: Trump Media to sell instant access to 'market-moving' social posts
#48Wake up America, they're laughing into your face
Re: Trump Media to sell instant access to 'market-moving' social posts
#49[deleted]
Re: Trump Media to sell instant access to 'market-moving' social posts
#50This creates an incentive to post things that cause high volatility (even in the downward direction) as that creates a "subscribe if you want early warning of market dips" pressure factor.
Maybe we can keep going to a point where it's so ridiculous that people realise the financial markets are the useless money laundering loop that they actually are
It's bonkers that we have a private company that does things for other private companies being somehow the back-bone of every nation on the planet.....