SEC Expands Probe Into Trump’s Truth Social Platform

Axios reports:

Federal securities regulators have expanded their investigation into the planned merger between a blank check acquisition company and former President Trump’s social media business, known as Truth Social, according to a Monday morning filing with the SEC.

Why it matters: Truth Social’s financial prospects are heavily reliant on investment tied to the merger, which may never come to pass.

Backstory: The Securities and Exchange Commission is investigating communications between the blank check company, called Digital World Acquisition Corp., and Trump. Of particular interest would be if the two sides negotiated prior to DWAC going public, which would have been illegal.

Read the full article.

NEW: Federal securities regulators have expanded their investigation into the planned merger between a blank check acquisition company and former President Trump’s social media business, known as Truth Social. https://t.co/bAzMQ7LvYy

— Axios (@axios) June 13, 2022