THAT WAS FAST

Trump’s New Social Media Venture Under Investigation by the Feds

Digital World Acquisition Corp., set to merge with the former president’s not-yet-realized social media company, is being probed by FINRA and the SEC.

Donald Trump’s extra-magical business touch has already blessed the so-called SPAC planning to merge with the former president’s announced-but-not-yet-realized social media app, Truth Social. In a Dec. 4 Securities and Exchange Commission (SEC) filing cited by The Wall Street Journal, Digital World Acquisition Corp., the special purpose acquisition vehicle, or, “blank-check company,” partnering with Trump, revealed that it has received “certain preliminary, fact-finding inquiries” from the Financial Industry Regulatory Authority (FINRA) associated with stock trades around the time of the merger agreement. The entity also disclosed that the SEC requested information pertaining to, among other things, communications between Digital World and Trump’s company, meetings of Digital World’s board of directors, and the identities of certain investors.” Digital World’s stock price jumped as much as 800 percent after news of the Trump venture broke.