▲ U.S. President Donald Trump holds up a photo of his post on Truth Social.
U.S. President Donald Trump has officially launched a paid subscription service for his social media platform, Truth Social.
The service charges subscribers a monthly fee of up to 100,000 dollars—approximately 140 million won—allowing paying users to access Truth Social posts one-thousandth of a second faster. This has sparked widespread criticism that a sitting president is abusing his power by exploiting his position.
British daily newspapers The Guardian and The Telegraph reported on the 2nd (local time) that Trump Media & Technology Group (TMTG), the operator of Truth Social, has launched the paid subscription service for President Trump's posts.
Although Trump Media Group did not specifically mention President Trump in its product launch announcement, his account is by far the most popular on Truth Social.
He is also the largest shareholder, holding a 41% stake in Trump Media Group.
President Trump, who has about 13 million followers, has frequently used Truth Social to announce major policy decisions first.
In particular, critical issues capable of moving markets, such as tariffs, trade policies, and diplomatic matters, have been disclosed via Truth Social ahead of official White House announcements.
He also used Truth Social to first break announcements regarding the war with Iran, which could impact international oil prices.
Given the immense influence wielded by the U.S. President, prioritizing disclosures on his own social media and allowing only paying individuals to view them first is a move bound to trigger conflicts of interest.
Consequently, critics argue that the service amounts to market manipulation and insider trading.
Democratic Senators Adam Schiff and Elizabeth Warren previously urged the Securities and Exchange Commission (SEC) to investigate the legality of the service.
They argue that the president has misused his official authority for personal gain, thereby undermining market integrity.
Trump Media expects the paid subscription service to become a major revenue source, and this anticipation has already been reflected in its stock price.
Although Trump Media shares have plummeted by more than 70% since President Trump took office last year, Forbes reported that on the 1st, one day prior to the launch of the paid service, the stock rose 5.5% to close at 10.39 dollars per share just before the market closed.
(Photo: AP, Yonhap News)
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