{"id":1090837,"date":"2021-12-06T16:59:38","date_gmt":"2021-12-06T21:59:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1090837"},"modified":"2021-12-06T16:59:40","modified_gmt":"2021-12-06T21:59:40","slug":"trumps-new-social-media-venture-is-under-sec-investigation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-new-social-media-venture-is-under-sec-investigation\/","title":{"rendered":"Trump\u2019s New Social Media Venture Is Under SEC Investigation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrumps-new-social-media-venture-is-under-sec-investigation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1090837&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Former President Donald Trump\u2019s new social media company is under investigation from the federal government.<\/p>\n<p>Trump <a href=\"https:\/\/www.dailywire.com\/news\/breaking-trump-releases-new-details-on-social-media-platform-that-he-is-launching-soon\">revealed<\/a> in October that he would take Trump Media &amp; Technology Group and TRUTH Social, his new social media platform, public through a special purpose acquisition company (SPAC) merger. However, according to CNBC, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) is requesting information \u201cregarding stock trading and communications with Trump\u2019s firm before the deal was announced.\u201d<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2021\/12\/06\/trump-spac-investigated-by-federal-regulators-including-sec.html\">CNBC<\/a> reported:<\/p>\n<p>The investigations by the SEC and the Financial Industry Regulatory Authority were disclosed in an 8-K filing with the SEC by Digital World Acquisition Corp., the special purpose acquisition company on track to merge with Trump Media &amp; Technology Group\u2026<\/p>\n<p>The filing comes just two days after Trump Media &amp; Technology Group and DWAC said the SPAC had reached agreements to obtain $1 billion in committed capital from a \u201cdiverse group of institutional investors\u201d to be received when the merger is consummated. The identities of those investors in that so-called PIPE, or private investment in public equity, were not publicly disclosed.<\/p>\n<p>DWAC\u2019s stock price fell by 3% after the filing.<\/p>\n<p>In a statement released along with his October announcement, Trump explained that he launched Trump Media &amp; Technology Group to \u201cstand up to the tyranny of Big Tech.\u201d<\/p>\n<p>\u201cWe live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,\u201d he said. \u201cThis is unacceptable. I am excited to send out my first TRUTH on TRUTH Social very soon.\u201d<\/p>\n<p>\u201cTMTG was founded with a mission to give a voice to all,\u201d he continued. \u201cI\u2019m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn\u2019t someone stand up to Big Tech? Well, we will be soon!\u201d<\/p>\n<p>The launch of Trump\u2019s venture is one of many recent disruptions in the social media space.<\/p>\n<p>Last week, longtime Twitter CEO Jack Dorsey announced that he would step down from his position, which was immediately filled by Twitter CTO Parag Agrawal. The next day, Twitter <a href=\"https:\/\/www.dailywire.com\/news\/twitter-crackdown-video-and-photo-sharing-banned-without-consent-under-first-day-with-new-ceo\">revealed<\/a> that it would restrict sharing videos and photos without the consent of the person depicted.<\/p>\n<p>Agrawal has formerly voiced a willingness to use Twitter\u2019s power to practice viewpoint discrimination. Agrawal <a href=\"https:\/\/www.dailywire.com\/news\/twitters-new-ceo-in-2020-company-not-bound-by-first-amendment-must-think-how-times-have-changed\">told<\/a> MIT Technology Review last year that Twitter does not need to be \u201cbound by the First Amendment\u201d and that discourse on the platform should be policed in a way that reflects \u201chow the times have changed.\u201d&nbsp;<\/p>\n<p>Rumble, another free speech social media network, is also poised to go public. According to CEO Chris Pavlovski, the firm will be <a href=\"https:\/\/www.dailywire.com\/news\/rumble-a-free-speech-alternative-to-youtube-is-going-public\">listed<\/a> on the NASDAQ under the ticker CFVI after a SPAC merger.<\/p>\n<p>\u201cRumble is creating the rails to a new infrastructure that will not be bullied by cancel culture.\u201d Pavlovski said. \u201cWe are a movement that does not stifle, censor, or punish creativity and freedom of expression. We believe everyone benefits when they have access to more ideas and diverse opinions.\u201d<\/p>\n<p>He added, \u201cBeing a public company will allow the people that believe in our mission to invest and join us as we seek to restore a free and open internet.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President Donald Trump\u2019s new social media company is under investigation from the federal government.Trump revealed in October that he would take Trump Media &#038; Technology Group and TRUTH Social, his new social media platform, public through a special purpose acquisition company (SPAC) merger. However, according to CNBC, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) is requesting information \u201cregarding stock trading and communications with Trump\u2019s firm before the deal was announced.\u201dCNBC reported:The investigations by the SEC and the Financial Industry Regulatory Authority were disclosed in an 8-K filing with the SEC by Digital World Acquisition Corp., the special purpose acquisition company on track to merge with Trump Media &#038; Technology Group\u2026The filing comes just two days after Trump Media &#038; Technology Group and DWAC said the SPAC had reached agreements to obtain $1 billion in committed capital from a \u201cdiverse group of institutional investors\u201d to be received when the merger is consummated. The identities of those investors in that so-called PIPE, or private investment in public equity, were not publicly disclosed.DWAC\u2019s stock price fell by 3% after the filing.In a statement released along with his October announcement, Trump explained that he launched Trump Media &#038; Technology Group to \u201cstand up to the tyranny of Big Tech.\u201d\u201cWe live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,\u201d he said. \u201cThis is unacceptable. I am excited to send out my first TRUTH on TRUTH Social very soon.\u201d\u201cTMTG was founded with a mission to give a voice to all,\u201d he continued. \u201cI\u2019m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn\u2019t someone stand up to Big Tech? Well, we will be soon!\u201dThe launch of Trump\u2019s venture is one of many recent disruptions in the social media space.Last week, longtime Twitter CEO Jack Dorsey announced that he would step down from his position, which was immediately filled by Twitter CTO Parag Agrawal. The next day, Twitter revealed that it would restrict sharing videos and photos without the consent of the person depicted.Agrawal has formerly voiced a willingness to use Twitter\u2019s power to practice viewpoint discrimination. Agrawal told MIT Technology Review last year that Twitter does not need to be \u201cbound by the First Amendment\u201d and that discourse on the platform should be policed in a way that reflects \u201chow the times have changed.\u201d\u00a0Rumble, another free speech social media network, is also poised to go public. According to CEO Chris Pavlovski, the firm will be listed on the NASDAQ under the ticker CFVI after a SPAC merger.\u201cRumble is creating the rails to a new infrastructure that will not be bullied by cancel culture.\u201d Pavlovski said. \u201cWe are a movement that does not stifle, censor, or punish creativity and freedom of expression. We believe everyone benefits when they have access to more ideas and diverse opinions.\u201dHe added, \u201cBeing a public company will allow the people that believe in our mission to invest and join us as we seek to restore a free and open internet.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.\u00a0<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1090837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1090837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1090837"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1090837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1090837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1090837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1090837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}