Here’s Why The Government Is Looking Into Donald Trump’s Truth Social Media Site

According to a recent filing by the Security and Exchange Commission (SEC), the federal agency has been diving deeper into the inner workings of Trump Media & Technology Group (TMTG), better known as the parent company of the former president’s social media platform. 

The investigation centers on the corporation’s impending merger with Digital World Acquisition Corp that, as per Gizmodo, could be an alleged shell company planning to take TMTG public as a Special Purpose Acquisition Company (SPAC).

Officials revealed they were looking into rumors that Trump and DWAC had negotiated the merger before the firm went public, which, according to Axios, would be considered illegal. If it is found guilty, the company could face “the imposition of significant penalties,” including “prohibitions on the conduct of Digital World’s business.” 

While neither TMTG nor DWAC have offered statements in response, the latter did disclose that regulators were seeking “additional documents and information,” backing up claims of the ongoing investigation. 

Will Truth Social be implicated in this mess? With it rising to the top of App Store downloads in April and finally making its web portal available last month, it would certainly hope not to slow its roll now. 

[via Gizmodo and Axios, cover image via Gints Ivuskans | Dreamstime.com]