Democrats Call for U.S. Investigation Into Trump’s $100,000 Early-Access Social Media Service

Democratic officials in the United States are calling for an investigation into President Donald Trump and his social media platform, Truth Social. The allegation: Market investors who could make a fortune from the swings triggered by the president’s posts may receive an advance look at the posts he is about to publish—for a monthly subscription of $100,000.

The service, called "Truth API," would provide businesses that sign up with a platform offering "real-time" alerts about "market-moving" posts from various users of Trump’s social network. Trump’s own account was not explicitly mentioned in the company’s announcement of the new service, but Democrats argued that it is the most popular account on Truth Social, with about 13 million followers.

Trump’s company said in response that posts included in the service would be published to the general public at the same time. But subscribers would receive more immediate access to the president’s posts—an advantage estimated to amount to fractions of a second.

According to a report by Ynet, Renee Jones, a Boston College professor and former senior official at the U.S. Securities and Exchange Commission (SEC), told NPR that the new service could violate laws against insider trading and fraud involving the misuse of nonpublic information to give a trader an unfair advantage. "If the president’s posts on Truth Social are translated into financial gain, and certain people receive special access to them, that is information obtained unlawfully," Jones argued. "And by giving people early access to his posts, he is also violating his fiduciary duty."

Democrats in Congress are alleging "blatant corruption" and promising to investigate Trump and his company. Senators Elizabeth Warren and Adam Schiff, two of Trump’s fiercest opponents in Congress, called for an inquiry into whether the new service violates U.S. law. "This appears to be a scandalous exploitation of presidential power for personal gain, undermining everyday investors and the integrity of our markets while enriching Wall Street and other wealthy insiders," they said.

Meanwhile, Capital One asked a court to dismiss the lawsuit filed against it by the Trump Organization and Eric Trump, arguing that its decision to close more than 300 bank accounts associated with the organization in 2021 was based on anti-money-laundering (AML) considerations—not political motives, as the plaintiffs claim.

According to a report in the British Guardian, the company said the decision followed months of analysis and review by the bank’s anti-money-laundering team, in accordance with internal policy and regulatory guidance. It said the activity patterns identified in the accounts fell into categories flagged under federal banking guidelines for anti-money-laundering review.

The company emphasized that it is not accusing the Trump Organization of money laundering. Still, the bank argues that the documents submitted to the court, as well as the claims raised by the plaintiffs themselves, make clear that the accounts were closed for professional reasons related to the company’s anti-money-laundering framework.

The lawsuit against Capital One was filed in March 2025 in federal court in Florida by the Trump Organization and Eric Trump, the president’s son. The plaintiffs claim that the bank closed the accounts because of its "progressive" ("woke") views and its desire to align itself with the public and political climate that emerged after the January 6, 2021, events at the Capitol.