CNBC Reporter Criticizes Truth Social's New API for Financial Firms

CNBC senior economics reporter Steve Liesman criticized Trump Media & Technology Group's new Truth API, which will sell financial firms faster access to posts from President Donald Trump. Liesman expressed concern that this practice undermines the government's efforts to distribute sensitive economic information fairly. He stated, "For me, this announcement by the president makes me want to puke, literally puke," during an appearance on MS NOW. A spokesperson for Truth Social responded, calling Liesman's remarks "ill-informed" and noted that financial firms often pay for similar feeds from other social media platforms. Liesman highlighted that the plan could provide an unfair advantage to investors who pay for the service, raising questions about potential insider trading. Dan Nathan, a CNBC contributor, mentioned that the time advantage would primarily benefit professional traders rather than long-term investors. The Truth API is set to begin serving institutional customers on August 1, with pricing details not disclosed. Interim CEO Kevin McGurn stated that as adoption increases, the API is expected to generate significant revenue for the company.