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Kevin McGurn Defends Truth API as Trump Media & Technology Group Expands Customer Base

Kevin McGurn, interim CEO of Trump Media & Technology Group, defended the company's new Truth API service on Monday. The service provides early access to President Trump's Truth Social posts for a monthly fee of up to $100,000, allowing institutional investors to receive market-moving information before the general public. McGurn noted that the service has already attracted more than 10 customers, with the number of subscribers climbing into the mid-teens. While the service is gaining traction, it faces scrutiny from various stakeholders. Democrats on the House Financial Services Committee, led by Maxine Waters, have called for an SEC investigation into the potential for market unfairness, alleging that the service allows deep-pocketed firms to front-run retail investors. Additionally, a lawsuit has been filed by The Intercept and the Freedom of the Press Foundation to halt the monetization of government information. Brendan Ballou, CEO of the Public Integrity Project, argues that the scheme is potentially unconstitutional, as the government should not discriminate who it gives information to based on what they are willing to pay the president's personal company.

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