Critics are denouncing a new Trump Media plan to sell priority access to Truth Social posts as ‘brazen corruption,’ according to The Guardian. Kathleen Clark of the Washington University School of Law, an expert in government conflict of interest rules, said, ‘He’s selling expedited, privileged access to information about what he is doing as president. It’s yet more brazen corruption, an improper exploitation of government power to enrich himself.’
Priority Access to Trump’s Posts
The new service allows traders to see ‘the highest-ranking Truth Social accounts’ before others; the U.S. president has the most followers—12.9 million—followed by his eldest son, Donald Jr., and his son Eric. A press release did not specify how much customers would be charged for the service, but Trump regularly uses Truth Social to announce major decisions affecting markets, including posts about the Iran war and tariffs.
Last year. Trump made more than 100 posts in a single day as global stock markets fell sharply amid fears his economic policies could produce a ‘Trumpcession’ in the U.S. The Iran posts are particularly impactful because investors are worried that higher oil prices will continue to stoke inflation and possibly force the Federal Reserve to raise interest rates.
Legal Dispute Over Financial Reporting
Trump Media & Technology Group (TMTG) has filed a defamation lawsuit against the Washington Post over an article titled ‘Trust linked to porn-friendly bank could gain a stake in Trump’s Truth Social,’ which reported on TMTG’s finances. The article claimed TMTG paid a $240,000 referral fee for an $8 million loan from an entity known as ES Family Trust; After almost three years of litigation, the Post has now admitted the information was false. According to the court filing. ‘Discovery in the ongoing litigation has established that Trump Media didn’t pay a loan referral fee of $240,000, as was stated in the article and was based on The Post’s reporting at the time of publication.’.
TMTG is seeking nearly $2 billion in damages and argues that the statements about the referral fee were false and defamatory, and However, under United States Supreme Court and Eleventh Circuit precedent following New York Times Co. v. Sullivan (1964), a jury will not have the opportunity to decide the case. For TMTG to win. It must prove the Post either knew the statements were false or had serious doubts about their truthfulness at the time of publication.
Market Impact and Public Response
Stock in TMTG has plunged more than 70% since the president took office last year, erasing $6 billion in shareholder wealth. The Trump family company declined to comment on whether the new feature was profiting off the presidency, and TMTG did not respond to questions from Associated Press, including whether Trump’s posts would be excluded from the offering.
Followers of Trump can already choose to get push notifications when new posts are published. The controversy over the new feature has sparked widespread debate about the ethics of using government power for commercial gain, with critics calling it a clear case of ‘brazen corruption.’
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