Trump Sued for Truth Social Scheme to Manipulate Markets

President Donald Trump has just been sued for trying to sell early access to his Truth Social posts. 

The Intercept and the Freedom of the Press Foundation filed the lawsuit in the U.S. District Court for the Southern District of New York Wednesday, calling Trump’s plan “extraordinary, corrupt and unconstitutional.” 

Truth Social is part of Trump’s company, Trump Media & Technology, which announced the plan last month. Under a new product, known as Trump API, it seeks to get Wall Street companies to pay between $60,000 and $100,000 per month for preferred access to Trump’s posts so their traders can have an advantage on market reactions to them. 

Trump API would provide 24/7 access, along with Trump’s archived posts going back to 2022, including ones that were deleted or altered. Trump Media’s interim CEO Kevin McGurn says that the company intends “to create a lot of friction for those folks that aren’t coming to us directly.”   

This seems a lot like insider trading, which is a federal crime prosecuted by the Securities and Exchange Commission, and the lawsuit directly takes aim at the ethical issues behind selling access to market-moving information from the president of the United States. 

“This scheme is profoundly corrupt. The President stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company,” the plaintiffs write. “There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information.” 

According to the lawsuit, Trump Media disclosed on Monday that it already has more than 10 subscribers to the service, including financial news outlets and high-frequency trading firms. The president stands to personally profit from those companies having access to privileged information generated by his position. 

With any other politician, this would be a massive ethical violation possibly coming with legal penalties, but for Trump, it’s only the latest in a series of schemes that have allowed him to profit off of his presidency. For now, this lawsuit is the only attempt to end his insider trading venture. 

Newly-confirmed Attorney General Todd Blanche seems to want to resurrect President Trump’s $1.776 billion “Anti-Weaponization” slush fund by another name.

Blanche claimed that the fund was dead, while at the same time insinuating that the administration would look for other ways to offer payouts to insurrectionists and allies during his introductory press conference on Wednesday.

“The president has never gone as far as you have to say that the Anti-Weaponization fund is dead. Now that you’ve been confirmed narrowly, arguably because of that Anti-Weaponization fund ... is it dead, and is it ever gonna come back?” a reporter asked.

Blanche offered a verbose, noncommittal answer.

“I quibble with that, because the president said in the Cabinet meeting that it’s dead. He’s also said that he likes it. But he has also said it’s dead,” Blanche said. “As for me ... I have testified under oath that it’s dead. I have testified in front of the House when I wasn’t under oath where I said it was dead. I have answered questions after my hearing where I said that it was dead. I rescinded the order that set up the weaponization fund, which means that it does not exist ... I’m not sure how I can further say that the Anti-Weaponization Fund does not exist.”

“We also have said ... that if Congress would like to make it a law, that we would support that,” Blanche continued, changing tack. “The president feels very strongly, as do I, that there were people who were victims of a Department Of Justice that was absolutely weaponized, and he feels very strongly he would want to make them whole, as do I. But it will not be through the Anti-Weaponization Fund.”

Within Blanche’s answer is a strong desire to gift reparations to Trump’s aggrieved supporters and friends through whatever means accessible to them—an alarming answer given that it was one of the issues his confirmation apparently hinged on.

The Los Angeles Lakers may soon be sold for $12 billion—and the Trump administration might have something to do with it. 

ESPN reported Wednesday that Josh Kushner, the brother of President Donald Trump’s son-in-law Jared Kushner, and ex-Disney CEO Bob Iger have reportedly reached a deal with business executive Mark Walter to buy the NBA team just a year after Walter purchased it for $10 billion. 

The timing is suspicious, as Walter is facing a loan fraud investigation by the Securities and Exchange Commission, as well as the U.S. Attorney’s Office in Manhattan, over $16 billion in private credit deals concerning insurance companies he owns. Walter also happened to visit the White House in June to be honored with the Los Angeles Dodgers, which he owns, for winning the World Series. 

Did Trump cut a deal and get his son-in-law’s brother involved to help Walter out with some impending financial trouble? Josh Kushner is said to politically disagree with his brother and Trump. But he still would have been the main investor in the abandoned plan by FIFA President Gianni Infantino, who has cozied up to Trump, to sell stakes in the World Cup. Kushner would have to sell his minority stake in the Miami Heat to complete the Lakers deal.

Walter faces a serious threat to his business empire with the federal probes, according to The Wall Street Journal. Trump’s second term has been marked by visible corruption involving business executives and wealthy foreign leaders close to the president, and that appears to be extending to professional sports.  

After a tense month in which she drew the ire of President Trump, U.S. Attorney for the District of Columbia Jeanine Pirro has called a special grand jury to Washington, D.C.

A special grand jury is a judicial body made up of 23 American citizens that exists to conduct large, sometimes yearlong investigations usually centered on government corruption or organized crime. They can also issue a report regarding the potential “preponderance of evidence” upon the conclusion of their investigation, something a regular jury can’t do. Anyone named in their investigation may later testify in front of them.

Pirro’s move is unprecedented, as a federal special grand jury has never been called in a jurisdiction as small as D.C. And while she has yet to speak on what the body will actually focus on, one doesn’t need to look far to identify why she might be taking aggressive measures like this right now.

Pirro couldn’t get the “DC Sandwich Guy” after charging him with assault for throwing a sandwich at a federal agent during Trump’s takeover. She failed to indict the six congressional Democrats—led by Senator Mark Kelly—who made a video urging federal law enforcement and members of the military not to obey illegal orders in February. And most recently she’s failed to get any kind of prosecutorial motion on the Reflecting Pool drama, getting into screaming matches with Interior Secretary Doug Burgum of all people while Trump publicly rebukes her. The former Fox News host has had her back against the wall for some time now. While this move still might not put any actual bite into her bark, it might be just loud enough for Trump not to fire her.

Conditions have reportedly gotten so bad aboard the USS Abraham Lincoln, an aircraft carrier deployed to the Persian Gulf since November, that some sailors have tried to jump overboard.

The Military Times reported Tuesday night that in multiple instances, some of the 5,000 military personnel on the ship have tried to jump off before being stopped by other crew members. Family members of those stationed on the ship are concerned about the mental health, exhaustion, and safety issues affecting their loved ones.

“He’s scared,” Annabelle Loma told the Times about her husband, who reportedly tried to jump overboard. “He thinks he’ll get a dishonorable discharge, and just because he was burnt out, his 13-year career is ruined, just like that. That’s not fair, that’s not right. That’s not what he should be worrying about right now.”

In recent town hall meetings with military leaders, including acting Navy Secretary Hung Cao, things have gotten heated, with family members expressing fear and worry over mental health and the risk of self-harm for the ship’s personnel. One spouse reportedly told officials at a meeting Thursday that her husband had messaged her earlier that day saying “he hopes he doesn’t wake up tomorrow.”

One woman at a town hall in San Diego told Cao it was difficult to feel proud of her relative because she believed the military was “killing innocent civilians,” and her relative had expressed guilt about what he was doing, which drew applause from the audience.

Stars and Stripes spoke to several sailors and their family members, who describe declining morale and exhaustion on the Abraham Lincoln, which was only supposed to deploy to the Middle East until May this year. The ship left port in San Diego in November for a deployment to the Pacific Ocean, but was diverted to the Gulf because of Donald Trump’s Iran war. Combat operations have been extended with no return date.

The ship has experienced food shortages, with pictures of meager and tasteless-looking meals going viral. Supplies are also running short, and the ship has experienced water contamination, plumbing problems, and disruptions in mail delivery. All of this is wearing on the discipline and mental health of those aboard as Trump’s pointless war with Iran drags on without end.

Trump, for his part, seems either unaware of how dire things are among servicemembers or simply doesn’t care. He touted the U.S. naval blockade on the Strait of Hormuz Wednesday and bragged about how successful it is.