Bullish
Major Trading Firms Reject Truth API Data Service Amid Regulatory Uncertainty
07:10
Hudson River Trading and Citadel Securities refuse to pay for Trump's Truth API, citing non-essential utility. SEC monitors potential insider trading loopholes regarding presidential media data.
Woofun AI reports that the Truth API data service launched by Trump's media company is encountering resistance from prominent trading firms. While some institutions have signed contracts, Hudson River Trading and Citadel Securities stated they are unwilling to pay, arguing the service is not a necessity for trading operations. Sources familiar with the matter requested anonymity due to confidential information access.
Analysts note that current insider trading regulations do not explicitly cover scenarios where a president uses media platforms to release market-affecting information or sells faster access to such data. Karen Woody, a professor at Washington and Lee University Law School, said past regulatory frameworks did not anticipate a sitting president engaging in such practices. Paul Atkins, chairman of the SEC, previously stated in an interview that the SEC is monitoring developments related to the Truth API data stream.
WOOFUN AI
Impact Assessment · Quick Read
The rejection by major firms like Citadel Securities signals skepticism toward the commercial viability of political data feeds as essential trading inputs. The regulatory ambiguity surrounding presidential information dissemination creates compliance risks for exchanges and data vendors. SEC monitoring suggests potential future rulemaking could reshape how political news is distributed and traded, impacting governance-focused protocols.
Generated by WOOFUN AI · For reference only, not investment advice
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