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Federal government investigating Trump’s social media startup deal, says business partner

Former President Trump’s social media start-up business partners revealed on Monday that the Biden administration is investigating their business. US Securities and Exchange Commission..

NS SEC And the Financial Industry Regulatory Authority (FINRA) are requesting information from each. Digital World Acquisition Corp. (DWAC), Special acquisition company with merger agreement Playing card media & Technology Group.

Playing card media & Technology Group is responsible for the development of TRUTH Social, the new social platform Trump intended.

DWAC It said in the filing received FINRA and SEC And that was working with regulatory agencies.

according to DWAC, FINRA Requested information prior to the merger agreement with Mr. Trump’s team. NS SEC I needed information about policies and procedures related to transactions, identification information, and communication between them. DWAC When Playing card media & Technology Group.

“according to SECRequests, investigations do not mean that SEC Someone violated the law or SEC Have a negative opinion of DWAC Or read the filing submitted by “Anyone, Event, or Security” DWAC..

NS SEC Reject comment, Playing card media & Technology Group did not immediately respond to the request for comment.

Formerly Senator Elizabeth Warren Prompted NS SEC With Mr. Trump’s team DWAC.. Warren has begun his own research on the following special purpose acquisition companies: DWAC In September SEC In November, Chairman Gary Gensler demanded an investigation into the deal with Mr. Trump’s group.

DWACThe Biden administration’s investigation was submitted by Mr. Warren’s November letter to the regulatory agency. SEC Investigate Mr. Trump’s team.

Filing said SECInformation requests were made in “early November 2021” and FINRA inquiries were made in “late October and early November 2021”.

On Friday, Playing card media & Technology Group DWAC He said there was a $ 1 billion capital agreement from an undesignated “diversified group of institutional investors.”

“$ 1 billion sends Big Tech an important message that censorship and political discrimination must end,” Trump said on Friday. statement that’s why Playing card media & Technology Group Chairman. “The United States is ready for TRUTH Social, a platform that does not discriminate on the basis of political ideology. As the balance sheet expands, TMTG will be in a stronger position to combat big tech’s monopoly politics. “



Federal government investigating Trump’s social media startup deal, says business partner

Source link Federal government investigating Trump’s social media startup deal, says business partner

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