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Warren, Schiff Urge SEC Probe Trump Media’s $60K-$100K API

8/2/2026

25 2 Full Breakdown

Summary

Story summary

Elizabeth Warren and Adam Schiff asked the SEC to probe Trump Media's Truth API.
Senators Elizabeth Warren and Adam Schiff said the API would sell access to posts for $60,000-$100,000 a month and could breach market-manipulation rules because the posts shift markets.
Trump Media confirmed customers signed up before the August 1 launch, while President Donald Trump owns 41% of the company and its shares have fallen about 80% since March 2024.

History

Historical Context

The 2010 flash crash, triggered by a $4.1 billion NYSE trade that erased roughly 1,000 Dow points in minutes, highlighted high-frequency trading risks. Subsequent crashes, like the 2013 Singapore Exchange plunge, prompted tighter reporting rules. Lawmakers now cite that history while debating Trump Media’s paid Truth API to guard against similar market manipulation.

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Story summary

Elizabeth Warren and Adam Schiff asked the SEC to probe Trump Media's Truth API.
Senators Elizabeth Warren and Adam Schiff said the API would sell access to posts for $60,000-$100,000 a month and could breach market-manipulation rules because the posts shift markets.
Trump Media confirmed customers signed up before the August 1 launch, while President Donald Trump owns 41% of the company and its shares have fallen about 80% since March 2024.

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