President Donald Trump is set to profit from his social media posts by selling access to them to Wall Street traders. The move has raised concerns about insider trading and the use of public office for private gain. Trump’s social media posts have been known to move markets, with his comments on policy changes and company performances causing stocks to soar or plummet.

Concerns About Insider Trading

Critics argue that the sale of Trump’s social media posts to traders could give them an unfair advantage in the market. Irene Aldridge, head of Able Alpha Trading, said that if this were a public company, it would be considered insider trading and could result in jail time. Trump’s press office declined to comment on the propriety of the new service, referring questions to Truth Social’s parent company.

The service, dubbed Truth API, will provide traders with advance access to Trump’s social media posts, including policy announcements and comments on publicly traded companies. This could give traders an edge in the market, allowing them to make quick profits from the information. However, some experts argue that the service is not necessarily a problem, as the information will be released to the public at the same time.

Impact on the Market

Trump’s social media posts have already had a significant impact on the market, with his comments on trade policies and company performances causing stocks to fluctuate. The sale of his posts to traders could exacerbate this effect, leading to greater market volatility. Some experts warn that this could be detrimental to retail investors, who may not have the same access to information as large traders.

Despite the concerns, some traders believe that the service will be valuable, particularly for those who specialize in high-frequency trading. Joe Saluzzi, co-founder of Themis Trading, said that the service could be useful for traders who need to make quick decisions based on market-moving information.

Original reporting: NBC Connecticut — read the source article.