According to reports, the forthcoming Trump social media platform dubbed as “Truth Social” could be delayed as long as until after the 2022 midterms, citing a Securities and Exchange Commission investigation into acquisition surrounding the release of the platform and app.
In a report from the Washington Post on January 10th, the highly-anticipated “Truth Social” could take longer than expected in terms of going live – undoubtedly serving as much disappointment to those eager to see what the former president’s social network will be like.
Trump’s social media endeavor s being developed by Trump Media & Technology Group, which said company is slated to be acquired by Digital World Acquisition Corporation, which is known as a special purpose acquisition company, or SPAC.
This merger, which according to the agreement between Digital World Acquisition Corporation and Trump Media & Technology Group needs to be completed by September of 2022, is reportedly on hold pending the outcome of a SEC investigation.
Back in December, reports noted that Trump wanted to have a beta version of Truth Social live within the first quarter of 2022, with details also coming forward that the SEC was looking to launch a probe into the merger between the two organizations and had requested documents as early as November of 2021.
The mere existence of an SEC probe into the merger doesn’t mean that there’s any evidence that a regulator has caught wind of any illegal activities; furthermore, the SEC hasn’t provided any formal comment regarding the probe.
However, this hasn’t stopped the likes of Democrat Senator Elizabeth Warren from speculating something nefarious occurred, with her having been leading the calls as early as November to have the SEC investigate Digital World Acquisition Corporation and Trump Media & Technology Group by proclaiming Trump’s company “may have committed securities violations by holding private and undisclosed discussions about the merger as early as May 2021.”
Delays to the platform aside, the excitement surrounding Truth Social continued to grow following the announcement in December that Trump’s organization had entered “into a wide-ranging technology and cloud services agreement with Rumble Inc” on which Red Voice Media previously reported.