Truth Social has launched a premium Truth API service that offers real-time access to posts for subscribers paying as much as $100,000 per month. While premium data feeds are common across social media platforms, this service has sparked controversy because the platform's most influential user is U.S. President Donald Trump.

The subscription is reportedly aimed at high-frequency trading firms, hedge funds, financial institutions, and news organizations seeking instant access to market-moving information. Critics argue that when a sitting president's social media posts can influence stock markets, commodities, tariffs, and geopolitical developments, faster access could create an unfair financial advantage for those who can afford it.

Trump's $100K Truth Social API Sparks Insider Trading Fears | Can Presidential Posts Be Sold?

US President Donald Trump returned to the White House Correspondents' Dinner, three months after the original event was cancelled following an assassination attempt. Speaking before journalists, lawmakers, and senior officials, Trump reflected on the attack, joked about running for another term, and once again criticized the media and his political opponents.

During his speech, Trump held up a "Trump 2028" cap, joked about seeking a third and even fourth term despite constitutional limits, and mocked what he described as "Trump Derangement Syndrome." The event was held under heightened security with Secret Service, National Guard, and police presence around the venue.

Trump returns to White House Correspondents' Dinner | Jokes about 2028, mocks media & third term

Trump Media and Technology Group has launched Truth API, a paid data service offering Wall Street trading firms millisecond-fast access to posts from some of the most influential accounts on Truth Social, including President Donald Trump’s account. The service, reportedly priced at around $100,000 per month for premium access, has sparked debate over whether early access to presidential posts could provide an advantage to investors before market reactions occur.

Trump Media Faces Backlash As Truth API Turns Presidential Posts Into A Business Model | US News 

Trump Media & Technology Group has launched Truth API, a premium licensed data feed that gives banks, financial institutions, and high-frequency trading firms the fastest access to posts from Truth Social's most influential accounts, including U.S. President Donald Trump.

The company says the service is designed for organizations where milliseconds matter, allowing institutional clients to receive market-moving updates faster than regular Truth Social notifications. Truth API also marks Trump Media's first major step into the financial data licensing business, opening a new revenue stream beyond social media.

Trump's Truth Social launches truth api | Wall Street gets fastest access to market-moving posts

Investors betting against Trump Media &amp; Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters.

Trump, 78, clinched a decisive win in the presidential race on Wednesday, defeating Democratic candidate Kamala Harris. In the weeks leading up to the election, DJT's stock saw a massive 196 per cent&nbsp;jump, turning the company’s shares into a volatile barometer for Trump’s reelection chances, the Reuters report explained further.

The stock, which tracks his election odds, gained significant attention alongside online gambling platforms like Polymarket and Kalshi, becoming a "meme stock" with a loyal following of retail investors, often characterised by their "diamond hands" mentality—refusing to sell no matter the price fluctuations.

Trump Media, the parent company of the Truth Social platform, is primarily owned by Donald Trump himself. The company operates a social media site and a streaming service. Its stock has attracted considerable short interest, contributing to its extreme volatility.

According to S3, the combination of a small float, heavy short interest, and the fervour of Trump supporters has made DJT highly susceptible to a "short squeeze," where rapid price increases force short sellers to cover their positions, exacerbating the price rise further.

In the days leading up to the election, DJT's stock experienced multiple halts due to wild price swings. On the day of Trump’s win, short sellers faced significant losses, with one report estimating a $77 million loss on 14 million shares at $5.50 per share.

With so many investors betting against the stock, the potential for a continued short squeeze remains high, S3 noted. The report highlighted that this situation makes DJT a key focus for market participants in the post-election period, with its price expected to stabilize closer to Trump’s inauguration in January.

The biggest beneficiary of the stock's meteoric rise has been Trump himself. Since March, his stake in the company has ballooned, reaching as high as $5.2 billion before settling at around $4.1 billion following the election.

The report suggests that Trump's financial windfall from the stock’s ascent, combined with his presidential victory, positions him for significant gains in the months ahead. In the face of these market fluctuations, Trump Media’s stock remains a highly speculative and volatile asset.

Investors betting against Trump Media & Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters.

Investors betting against Trump Media & Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters. Trump, 78, clinched a decisive win in the presidential race on Wednesday, defeating Democratic candidate Kamala Harris. In the weeks leading up to the election, DJT's stock saw a massive 196 per cent jump, turning the company’s shares into a volatile barometer for Trump’s reelection chances, the Reuters report explained further. The stock, which tracks his election odds, gained significant attention alongside online gambling platforms like Polymarket and Kalshi, becoming a "meme stock" with a loyal following of retail investors, often characterised by their "diamond hands" mentality—refusing to sell no matter the price fluctuations. Trump Media, the parent company of the Truth Social platform, is primarily owned by Donald Trump himself. The company operates a social media site and a streaming service. Its stock has attracted considerable short interest, contributing to its extreme volatility. According to S3, the combination of a small float, heavy short interest, and the fervour of Trump supporters has made DJT highly susceptible to a "short squeeze," where rapid price increases force short sellers to cover their positions, exacerbating the price rise further. In the days leading up to the election, DJT's stock experienced multiple halts due to wild price swings. On the day of Trump’s win, short sellers faced significant losses, with one report estimating a $77 million loss on 14 million shares at $5.50 per share. With so many investors betting against the stock, the potential for a continued short squeeze remains high, S3 noted. The report highlighted that this situation makes DJT a key focus for market participants in the post-election period, with its price expected to stabilize closer to Trump’s inauguration in January. The biggest beneficiary of the stock's meteoric rise has been Trump himself. Since March, his stake in the company has ballooned, reaching as high as $5.2 billion before settling at around $4.1 billion following the election. The report suggests that Trump's financial windfall from the stock’s ascent, combined with his presidential victory, positions him for significant gains in the months ahead. In the face of these market fluctuations, Trump Media’s stock remains a highly speculative and volatile asset.

Trump Media short sellers face $420 million loss amid volatile election surge

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC.

The company is majorly owned by Donald Trump, which trades as DJT on the Nasdaq, experienced five separate halts within the first two hours of frenzied, high-volume trading.

Trump Media stock price action<o:p></o:p>

The first five-minute halt occurred at 9:36 am ET, when shares were trading up around 14 per cent. Trading was halted a second time at 9:42 am, with shares up nearly 9 per cent. The company was halted again at 9:50 am.

When it was halted for a fourth time at 10:21 am, the stock was down more than 2 per cent. Trading was halted again 10 minutes later. The stock then turned positive, and closed up 8.76 per cent at $51.51 per share.

Further, nearly 16 million Trump Media shares changed hands in the first 10 minutes of the trading day. By 10:15 am, the company had already surpassed its 30-day average trading volume of 35.1 million shares.

By 1:15 pm, Trump Media’s volume surpassed 134 million shares, the highest level since October 2021, when the then-private media company announced plans to merge with the blank-check firm known as DWAC.

The CNBC report further stated that merger was completed in late March, allowing the newly public Trump Media to trade on the Nasdaq. Trump Media’s current stock price remains below the company’s intraday peak from its trading debut.

Tuesday’s volatile session came after DJT stock had already surged more than 21 per cent on October 28, also on extremely heavy trading volume.

Those gains added to a pre-election stock rally that began in late September, after a months-long sell-off that dragged the company’s share price below $12. Just a few weeks later, Trump Media shares were trading at more than four times that price.

Trump Media stock has rallied by more than 200% in a month<o:p></o:p>

The stock as of October 29, morning was up 224 per cent so far this month, and is on pace for its best month since October 2021. The company’s stock now far exceeds its recent peak in mid-July, when its share price soared after the Republican presidential nominee narrowly survived an assassination attempt.

Trump owns nearly 57 per cent of the company, which operates the Truth Social platform. His stake at Monday’s closing price was worth upward of $5.4 billion, representing more than half of his on-paper net worth, according to Forbes. At the closing bell on October 29, the value of Trump’s stake had grown by nearly $500 million. Further, in-spite of losing hundreds of millions of dollars on scant revenue in recent fiscal quarters, Trump Media boasts a market capitalization above $10 billion.

Rally seen as a reaction to the upcoming US elections<o:p></o:p>

Prominent analysts believe the company’s many pro-Trump retail investors are buying its stock to support the former president, or bet on his odds of beating Democratic presidential nominee Kamala Harris.

The CNBC report further stated that, Monday’s surge followed Trump’s major campaign rally at Madison Square Garden in New York City on Sunday. The company’s gains have also coincided with political betting markets, such as Polymarket and Kalshi, tilting toward Trump over Harris in recent weeks.

Odds and gambling platforms do not use the same methods used by traditional political polling, and therefore are not substitutes for political polls. Critics have raised concerns that the election betting markets are being manipulated.

Market participants and investors are going to closely follow these developments and the results of the upcoming US elections to take informed investments calls with regards to the Trump Media stock, as victory for the former President can propel the stock rally even more.

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC.

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC. The company is majorly owned by Donald Trump, which trades as DJT on the Nasdaq, experienced five separate halts within the first two hours of frenzied, high-volume trading. Trump Media stock price action The first five-minute halt occurred at 9:36 am ET, when shares were trading up around 14 per cent. Trading was halted a second time at 9:42 am, with shares up nearly 9 per cent. The company was halted again at 9:50 am. When it was halted for a fourth time at 10:21 am, the stock was down more than 2 per cent. Trading was halted again 10 minutes later. The stock then turned positive, and closed up 8.76 per cent at $51.51 per share. Further, nearly 16 million Trump Media shares changed hands in the first 10 minutes of the trading day. By 10:15 am, the company had already surpassed its 30-day average trading volume of 35.1 million shares. By 1:15 pm, Trump Media’s volume surpassed 134 million shares, the highest level since October 2021, when the then-private media company announced plans to merge with the blank-check firm known as DWAC. The CNBC report further stated that merger was completed in late March, allowing the newly public Trump Media to trade on the Nasdaq. Trump Media’s current stock price remains below the company’s intraday peak from its trading debut. Tuesday’s volatile session came after DJT stock had already surged more than 21 per cent on October 28, also on extremely heavy trading volume. Those gains added to a pre-election stock rally that began in late September, after a months-long sell-off that dragged the company’s share price below $12. Just a few weeks later, Trump Media shares were trading at more than four times that price. Trump Media stock has rallied by more than 200% in a month The stock as of October 29, morning was up 224 per cent so far this month, and is on pace for its best month since October 2021. The company’s stock now far exceeds its recent peak in mid-July, when its share price soared after the Republican presidential nominee narrowly survived an assassination attempt. Trump owns nearly 57 per cent of the company, which operates the Truth Social platform. His stake at Monday’s closing price was worth upward of $5.4 billion, representing more than half of his on-paper net worth, according to Forbes. At the closing bell on October 29, the value of Trump’s stake had grown by nearly $500 million. Further, in-spite of losing hundreds of millions of dollars on scant revenue in recent fiscal quarters, Trump Media boasts a market capitalization above $10 billion. Rally seen as a reaction to the upcoming US elections Prominent analysts believe the company’s many pro-Trump retail investors are buying its stock to support the former president, or bet on his odds of beating Democratic presidential nominee Kamala Harris. The CNBC report further stated that, Monday’s surge followed Trump’s major campaign rally at Madison Square Garden in New York City on Sunday. The company’s gains have also coincided with political betting markets, such as Polymarket and Kalshi, tilting toward Trump over Harris in recent weeks. Odds and gambling platforms do not use the same methods used by traditional political polling, and therefore are not substitutes for political polls. Critics have raised concerns that the election betting markets are being manipulated. Market participants and investors are going to closely follow these developments and the results of the upcoming US elections to take informed investments calls with regards to the Trump Media stock, as victory for the former President can propel the stock rally even more.

Trump Media closes 8% higher after rollercoaster trading session

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City.

According to a report by CNBC, the stock closed at $47.36 per share, surpassing its mid-July peak, which was fuelled by the heightened attention following a near-assassination attempt at a rally in Pennsylvania. This earlier surge was followed by a significant sell-off, which saw the stock plummet to below $12 by late September.

However, the company made a remarkable recovery throughout October, coinciding with the intensifying presidential race against Democratic nominee Vice President Kamala Harris. Trump, who owns nearly 57 per cent of Trump Media, saw the value of his stake rise to about $5.4 billion at Monday’s intraday high, reflecting an increase of around $4 billion since the stock’s September lows.

Despite these fluctuations, analysts have often pointed out that Trump Media’s market value and volatile stock performance are not primarily driven by company news or the platform's modest revenue and audience size. Instead, they suggest that the stock serves as a vehicle for pro-Trump retail investors to express their support for the former president and as a barometer for his chances of regaining the White House.

The recent surge in stock price appears to correlate with a renewed sense of enthusiasm among supporters after Trump’s rally at Madison Square Garden, which attracted thousands of attendees in a predominantly Democratic city. A user on Truth Social celebrated the rally, noting, “Our dear President @realDonaldTrump packs MSG yesterday for the Rally of a lifetime and TODAY, the entire market is UP UP UP!!! $DJT.”

Traditional polling indicates a close race<o:p></o:p>

This spike in stock value aligns with a shift in political betting markets, where Trump’s odds appear to be improving, even as traditional polling indicates a close race. Betting platforms like Polymarket and Kalshi use different methodologies than conventional polls, raising questions about their reliability as indicators of political outcomes.

Recent concerns have emerged about potential manipulation in the election betting markets. For instance, Polymarket reported that a single individual from France amassed a significant pro-Trump position on its presidential election bets through four separate accounts.

As the election approaches, the dynamics of Trump Media’s stock, its investor base, and the broader political landscape remain linked, reflecting the fervor surrounding Trump’s campaign. Still, with a close race, it is just a matter of few more days before the US has a new President.

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City.

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City. According to a report by CNBC, the stock closed at $47.36 per share, surpassing its mid-July peak, which was fuelled by the heightened attention following a near-assassination attempt at a rally in Pennsylvania. This earlier surge was followed by a significant sell-off, which saw the stock plummet to below $12 by late September. However, the company made a remarkable recovery throughout October, coinciding with the intensifying presidential race against Democratic nominee Vice President Kamala Harris. Trump, who owns nearly 57 per cent of Trump Media, saw the value of his stake rise to about $5.4 billion at Monday’s intraday high, reflecting an increase of around $4 billion since the stock’s September lows. Despite these fluctuations, analysts have often pointed out that Trump Media’s market value and volatile stock performance are not primarily driven by company news or the platform's modest revenue and audience size. Instead, they suggest that the stock serves as a vehicle for pro-Trump retail investors to express their support for the former president and as a barometer for his chances of regaining the White House. The recent surge in stock price appears to correlate with a renewed sense of enthusiasm among supporters after Trump’s rally at Madison Square Garden, which attracted thousands of attendees in a predominantly Democratic city. A user on Truth Social celebrated the rally, noting, “Our dear President @realDonaldTrump packs MSG yesterday for the Rally of a lifetime and TODAY, the entire market is UP UP UP!!! $DJT.” Traditional polling indicates a close race This spike in stock value aligns with a shift in political betting markets, where Trump’s odds appear to be improving, even as traditional polling indicates a close race. Betting platforms like Polymarket and Kalshi use different methodologies than conventional polls, raising questions about their reliability as indicators of political outcomes. Recent concerns have emerged about potential manipulation in the election betting markets. For instance, Polymarket reported that a single individual from France amassed a significant pro-Trump position on its presidential election bets through four separate accounts. As the election approaches, the dynamics of Trump Media’s stock, its investor base, and the broader political landscape remain linked, reflecting the fervor surrounding Trump’s campaign. Still, with a close race, it is just a matter of few more days before the US has a new President.

Trump Media stock soars 21% following New York City rally

Former President Donald Trump’s social media empire dropped to a fresh low in the US stock market, post his primetime presidential debate with Kamala Harris. As discussed in a report by The Guardian. The stock closed 10.47 per cent lower in the last trading session and has lost 4.41 per cent of its value since the start of this year

Brief history of Trump’s media empire<o:p></o:p>

His company Trump Media &amp; Technology Group Corporation (TMTG) is an American media and technology company headquartered in Sarasota, Florida. It is best known as the owner of Truth Social and for being primarily owned by former US President Donald Trump.

Trump Media stocks initially dropped as much as 17 per cent on Wednesday<o:p></o:p>

Shares in Trump Media &amp; Technology Group, owner of the former President’s Truth Social platform, dropped by as much as 17 per cent as of Wednesday morning. They later pulled back, but still closed down 10.5 per cent. While TMTG is still valued at about $3 billion on the stock market, after an extraordinary rally earlier this year, it has endured a steep fall in recent months, retreating more than 75 per cent from its peak in March.

Trump has a majority stake in the firm but has so far been unable to sell his shares. This is about to change. The first day that the former president can begin selling shares if he chooses to do so, is 19 September. He owns nearly 115 million shares of the company, according to a recent filing with the Securities and Exchange Commission.

TMTG runs the social media platform Truth Social, which Trump created after he was banned from Twitter, now X, and Facebook after the January 6 Capitol riot. Based in Sarasota, Florida, the company has been losing money and struggling to raise revenue. It lost nearly $58.2 million last year while generating only $4.1 million in revenue, according to regulatory filings.

While TMTG has not disclosed the size of its user base, the research firm Similarweb estimated that in March it had 7.7m visits – while X, formerly Twitter, had 6.1bn. That same month, however, TMTG was valued at almost $10bn on the stock market.

Shares of TMTG have been considered a meme stock by some market experts, which is a nickname given to stocks that get caught up in buzz online and shoot way beyond what traditional analysis says they’re worth. It is a term that is generally assigned to stocks that don’t have strong fundamentals. The stock has fluctuated for the past several months, with trading largely driven by individual investors who are typically considered less sophisticated than day traders.

Former President Donald Trump’s social media empire dropped to a fresh low in the US stock market, post his primetime presidential debate with Kamala Harris. As discussed in a report by The Guardian.

Former President Donald Trump’s social media empire dropped to a fresh low in the US stock market, post his primetime presidential debate with Kamala Harris. As discussed in a report by The Guardian. The stock closed 10.47 per cent lower in the last trading session and has lost 4.41 per cent of its value since the start of this year Brief history of Trump’s media empire His company Trump Media & Technology Group Corporation (TMTG) is an American media and technology company headquartered in Sarasota, Florida. It is best known as the owner of Truth Social and for being primarily owned by former US President Donald Trump. Trump Media stocks initially dropped as much as 17 per cent on Wednesday Shares in Trump Media & Technology Group, owner of the former President’s Truth Social platform, dropped by as much as 17 per cent as of Wednesday morning. They later pulled back, but still closed down 10.5 per cent. While TMTG is still valued at about $3 billion on the stock market, after an extraordinary rally earlier this year, it has endured a steep fall in recent months, retreating more than 75 per cent from its peak in March. Trump has a majority stake in the firm but has so far been unable to sell his shares. This is about to change. The first day that the former president can begin selling shares if he chooses to do so, is 19 September. He owns nearly 115 million shares of the company, according to a recent filing with the Securities and Exchange Commission. TMTG runs the social media platform Truth Social, which Trump created after he was banned from Twitter, now X, and Facebook after the January 6 Capitol riot. Based in Sarasota, Florida, the company has been losing money and struggling to raise revenue. It lost nearly $58.2 million last year while generating only $4.1 million in revenue, according to regulatory filings. While TMTG has not disclosed the size of its user base, the research firm Similarweb estimated that in March it had 7.7m visits – while X, formerly Twitter, had 6.1bn. That same month, however, TMTG was valued at almost $10bn on the stock market. Shares of TMTG have been considered a meme stock by some market experts, which is a nickname given to stocks that get caught up in buzz online and shoot way beyond what traditional analysis says they’re worth. It is a term that is generally assigned to stocks that don’t have strong fundamentals. The stock has fluctuated for the past several months, with trading largely driven by individual investors who are typically considered less sophisticated than day traders.

Trump Media falls to fresh stock-market low after presidential debate

Shares of Trump Media &amp; Technology Group (TMTG) saw a significant slump of over 10.84% after surging&nbsp;8&nbsp;per cent in premarket trading on Friday. This followed President Joe Biden's underwhelming performance against former President Donald Trump during the first 2024 US presidential debate.

Despite the volatility, Citi analysts said that there may be increased interest in Trump Media &amp; Technology after the debate. Analysts point to news headlines &amp; narratives on social media. According to reports, Biden's 'shaky' performance boosted Trump's prospects ahead of the elections. Interestingly, Trump and Biden are the oldest presidential candidates ever.

Ben Laidler is a global markets strategist at digital brokerage eToro. He noted that "investors are probably going to give Trump the benefit of the doubt given how positive he was for markets in his presidency."

He further indicated that the stock performance of companies associated with Trump might reflect investor expectations for the upcoming election. This suggests that Trump is perceived to be in a strong position.

Trump media's shares have been tied to Donald Trump, with the shares dropping significantly after Trump's conviction in the hush money trial. Trump owns 46.9 per cent of the company, which is worth $6.5 billion.

Phunware, a software developer that worked on Trump’s 2020 campaign app experienced an increase of 8.1 per cent to $6.81. Rumble. A video-sharing platform favoured by conservatives. Also edged up by 0.5 per cent to $5.7.

Despite facing legal challenges earlier this month, including being found guilty of falsifying documents related to a payment to silence a porn star TMTG’s shares have surged about 110 per cent this year.

Trump owned 64.9 per cent of TMTG as of June 10. He has seen his stake valued at approximately $6.5 billion as of the last close.

The stock has been extremely volatile since its debut in late March. Despite the volatility, the stock has tripled this year. It peaked at nearly $80 in intraday trading on March 26. The company reported a loss of more than $300 million in the last quarter. The company's fate is tied to the US presidential election outcome. A victory for Donald Trump can ensure a prolonged climb, while a loss can cloud growth prospects.

(With inputs from Reuters)

Shares of Trump Media & Technology Group (TMTG) saw a significant slump of over 10.84% after surging 8 per cent in premarket trading on Friday. This followed President Joe Biden's underwhelming performance against former President Donald Trump during the first 2024 US presidential debate.

Shares of Trump Media & Technology Group (TMTG) saw a significant slump of over 10.84% after surging 8 per cent in premarket trading on Friday. This followed President Joe Biden's underwhelming performance against former President Donald Trump during the first 2024 US presidential debate. Despite the volatility, Citi analysts said that there may be increased interest in Trump Media & Technology after the debate. Analysts point to news headlines & narratives on social media. According to reports, Biden's 'shaky' performance boosted Trump's prospects ahead of the elections. Interestingly, Trump and Biden are the oldest presidential candidates ever. Ben Laidler is a global markets strategist at digital brokerage eToro. He noted that "investors are probably going to give Trump the benefit of the doubt given how positive he was for markets in his presidency." He further indicated that the stock performance of companies associated with Trump might reflect investor expectations for the upcoming election. This suggests that Trump is perceived to be in a strong position. Trump media's shares have been tied to Donald Trump, with the shares dropping significantly after Trump's conviction in the hush money trial. Trump owns 46.9 per cent of the company, which is worth $6.5 billion. Phunware, a software developer that worked on Trump’s 2020 campaign app experienced an increase of 8.1 per cent to $6.81. Rumble. A video-sharing platform favoured by conservatives. Also edged up by 0.5 per cent to $5.7. Despite facing legal challenges earlier this month, including being found guilty of falsifying documents related to a payment to silence a porn star TMTG’s shares have surged about 110 per cent this year. Trump owned 64.9 per cent of TMTG as of June 10. He has seen his stake valued at approximately $6.5 billion as of the last close. The stock has been extremely volatile since its debut in late March. Despite the volatility, the stock has tripled this year. It peaked at nearly $80 in intraday trading on March 26. The company reported a loss of more than $300 million in the last quarter. The company's fate is tied to the US presidential election outcome. A victory for Donald Trump can ensure a prolonged climb, while a loss can cloud growth prospects. (With inputs from Reuters)

Shares of Trump Media volatile following presidential debate

Securities and Exchange Commission charged Trump Media & Technology Group’s independent accounting firm, BF Borgers with widespread fraud on Friday (May 3). While the SEC accused the Lakewood, Colorado-based auditor of operating a “sham audit mill,” it did not make allegations of wrongdoing against Truth Social owner Trump Media.

Securities and Exchange Commission charged Trump Media & Technology Group’s independent accounting firm, BF Borgers with widespread fraud on Friday (May 3). While the SEC accused the Lakewood, Colorado-based auditor of operating a “sham audit mill,” it did not make allegations of wrongdoing against Truth Social owner Trump Media. What are the accusations against BF Borgers? "The Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023," SEC said in a press release. "The SEC also charged the Respondents with falsely representing to their clients that the firm’s work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm’s work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards" the SEC statement added. Also read: US lawmakers launch 'dog lovers caucus' as Trump potential running mate 'puppy killer' Kristi Noem goes viral The SEC levied a harsh penalty on BF Borgers, permanently barring the firm from operating as accountants. The company and its owner, Benjamin Borgers, also agreed to pay a combined $14 million in fines. “Borgers and his sham audit mill have been permanently shut down,” Gurbir Grewal, director of the SEC’s enforcement division, said in a press release. Companies that have employed BF Borgers will need to look for new accounting firms. SEC alerted those companies in a separate statement issued on Friday. Trump Media has announced that it is also looking for a new accounting firm. Trump Media's stock price falls Shortly after trading began on Friday, Trump Media, the company that controls the Truth Social app, saw its stock price fall 9 percent. Borgers worked as Trump Media's independent registered accounting firm before the social media company went public in March. Later in March, Trump Media's audit committee authorised Borgers' appointment as the public company's accounting firm.

SEC accuses Trump Media’s auditor of running 'sham audit mill'; stock price drops

Shares of Donald Trump's social media company slumped 18 per cent on Monday, extending losses since the stock's debut last month, after the company said it could sell millions of shares in coming months, including the former president's entire stake.

Trading in Trump Media &amp; Technology Group, which operates Truth Social, has been volatile since its listing on March 26, attracting both loyal Trump fans and short sellers who see the stock as wildly overvalued.

The stock already has fallen nearly 60 per cent since it opened on its first day of trade at $70.90, after a blank-check merger with Digital World Acquisition Corp. The shares closed down 18.4 per cent at $26.61.

Also read |&nbsp;<a href="https://www.wionews.com/world/trump-hush-money-case-no-jury-selected-on-day-1-as-potential-jurors-confess-to-bias-against-republican-711711">Trump hush money case: No jury selected on day 1, as potential jurors confess to bias against Republican</a>

Monday's filing, known as a registration statement, is considered standard after a company goes public through a special purpose acquisition company, or SPAC. These "blank check" entities raise capital through an initial public offering to acquire or merge with a company that is not publicly traded.

In the vast majority of these mergers, the company is contractually required to file a resale statement for parties who may not be able to sell their shares freely without the registration, said Peter Byrne, a securities lawyer at Cooley LLP who specializes in the process of going public.

"It's completely standard," Byrne said.

Bankers and lawyers told Reuters while the filing does not indicate any imminent intention to sell from affiliates of the company, it does clear the way for Trump to sell his shares after the lock-up is expired or waived.

The filing showed a potential sale of 146.1 million shares, including Trump's stake of 114.8 million shares, divided between the 78.75 million he owns and an additional stake he could receive if certain performance-based measures are achieved.

The filing also listed an additional 21.5 million shares that could be sold upon the exercise of certain warrants issued when the company went public.

Trump, the Republican candidate for president in the November election, is on trial in a Manhattan court related to hush money payments to a porn star. He has pleaded not guilty.

Shares of Donald Trump's social media company slumped 18 per cent on Monday, extending losses since the stock's debut last month, after the company said it could sell millions of shares in coming months, including the former president's entire stake.

Shares of Donald Trump's social media company slumped 18 per cent on Monday, extending losses since the stock's debut last month, after the company said it could sell millions of shares in coming months, including the former president's entire stake. Trading in Trump Media & Technology Group, which operates Truth Social, has been volatile since its listing on March 26, attracting both loyal Trump fans and short sellers who see the stock as wildly overvalued. The stock already has fallen nearly 60 per cent since it opened on its first day of trade at $70.90, after a blank-check merger with Digital World Acquisition Corp. The shares closed down 18.4 per cent at $26.61. Also read | Trump hush money case: No jury selected on day 1, as potential jurors confess to bias against Republican Monday's filing, known as a registration statement, is considered standard after a company goes public through a special purpose acquisition company, or SPAC. These "blank check" entities raise capital through an initial public offering to acquire or merge with a company that is not publicly traded. In the vast majority of these mergers, the company is contractually required to file a resale statement for parties who may not be able to sell their shares freely without the registration, said Peter Byrne, a securities lawyer at Cooley LLP who specializes in the process of going public. "It's completely standard," Byrne said. Bankers and lawyers told Reuters while the filing does not indicate any imminent intention to sell from affiliates of the company, it does clear the way for Trump to sell his shares after the lock-up is expired or waived. The filing showed a potential sale of 146.1 million shares, including Trump's stake of 114.8 million shares, divided between the 78.75 million he owns and an additional stake he could receive if certain performance-based measures are achieved. The filing also listed an additional 21.5 million shares that could be sold upon the exercise of certain warrants issued when the company went public. Trump, the Republican candidate for president in the November election, is on trial in a Manhattan court related to hush money payments to a porn star. He has pleaded not guilty.

Trump Media shares tank after filing shows more stock may be sold

Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former U.S. President Donald Trump's media business public.

Michael Shvartsman, 53, head of Miami-based venture capital firm Rocket One Capital, and his brother Gerald Shvartsman, 46, each pleaded guilty to one count of securities fraud before U.S. District Judge Lewis Liman in Manhattan.

Rocket One's chief investment officer, Bruce Garelick, is scheduled to face trial on related charges on April 29.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/world/trump-hush-money-case-new-york-judge-rejects-bid-to-delay-trial-over-presidential-immunity-claim-707468" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/trump-hush-money-case-new-york-judge-rejects-bid-to-delay-trial-over-presidential-immunity-claim-707468&amp;sa=U&amp;ved=2ahUKEwjH_OLiwKiFAxXTTWwGHfaNDKAQFnoECAQQAg&amp;usg=AOvVaw2xZG5U2o3V66VBsO7P4GdI&amp;arm=e" dir="ltr" href="https://www.wionews.com/world/trump-hush-money-case-new-york-judge-rejects-bid-to-delay-trial-over-presidential-immunity-claim-707468" target="_blank">Trump&nbsp;hush money case: New York judge rejects bid to delay trial</a>

Prosecutors charged the trio last year with illegally trading on inside information about Trump Media &amp; Technology Group's (TMTG) plan to go public through a merger with a blank-check company. TMTG operates Truth Social, Trump's main social media platform.

Prosecutors said the trio signed confidentiality agreements in June 2021 when they were approached to become early investors in Digital World Acquisition, the blank-check company. The agreements required them to keep information they learned confidential and not trade the company's securities in the open market, prosecutors said.

After hearing the company was in merger talks with TMTG, prosecutors said the trio tipped others and bought Digital World securities, selling them after the deal was announced on Oct. 20, 2021, to make a total of $22 million in illegal profit.

Michael and Gerald Shvartsman said in court that they knew what they were doing was wrong when they traded on nonpublic information.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/business-economy/trumps-truth-social-faces-4-billion-plunge-in-value-as-losses-mount-706841" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/trumps-truth-social-faces-4-billion-plunge-in-value-as-losses-mount-706841&amp;sa=U&amp;ved=2ahUKEwjH_OLiwKiFAxXTTWwGHfaNDKAQFnoECAUQAg&amp;usg=AOvVaw2GZ1QeOmImpLtO-OMgsGU0&amp;arm=e" dir="ltr" href="https://www.wionews.com/business-economy/trumps-truth-social-faces-4-billion-plunge-in-value-as-losses-mount-706841" target="_blank">Trump's&nbsp;Truth Social faces $4 billion plunge in value as losses mount</a>

"I've made a terrible mistake," Gerald Shvartsman said at the hearing.

"Insider trading is cheating, plain and simple," U.S. Attorney Damian Williams said in a statement after the pleas.

The Shvartsmans are scheduled to be sentenced on July 17. Securities fraud carries a maximum sentence of 20 years in prison, but any sentence would be imposed by the judge based on a range of factors. The average prison sentence in federal fraud cases in the U.S. last year was around two years.

TMTG was publicly listed in late March, and its shares have been on a wild ride fueled by speculators betting on enthusiasm for Trump, the Republican presidential candidate in November's election.

The stock shed early gains this week as Truth Social's parent company disclosed it had lost more than $58 million in 2023.

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/world/trump-posts-175-mn-bond-in-ny-civil-fraud-case-averts-seizure-of-assets-706693" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/trump-posts-175-mn-bond-in-ny-civil-fraud-case-averts-seizure-of-assets-706693&amp;sa=U&amp;ved=2ahUKEwjH_OLiwKiFAxXTTWwGHfaNDKAQFnoECAgQAg&amp;usg=AOvVaw1ptcCINXWyAP_ygXLgfYoE&amp;arm=e" dir="ltr" href="https://www.wionews.com/world/trump-posts-175-mn-bond-in-ny-civil-fraud-case-averts-seizure-of-assets-706693" target="_blank">Trump&nbsp;posts $175mn bond in NY civil fraud case</a>

TMTG shares finished trading at $48.81 on Wednesday, making Trump's stake worth about $3.8 billion, though he is not allowed to sell or borrow against it for six months.

Trump Media is also embroiled in legal battles in Delaware and Florida with co-founders Wesley Moss and Andrew Litinsky, who have accused the company of trying to improperly dilute their stake. Trump Media has argued they failed to earn their shares and seeks to strip them of their ownership.

Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former U.S. President Donald Trump's media business public.

Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former U.S. President Donald Trump's media business public. Michael Shvartsman, 53, head of Miami-based venture capital firm Rocket One Capital, and his brother Gerald Shvartsman, 46, each pleaded guilty to one count of securities fraud before U.S. District Judge Lewis Liman in Manhattan. Rocket One's chief investment officer, Bruce Garelick, is scheduled to face trial on related charges on April 29. Also read: Trump hush money case: New York judge rejects bid to delay trial Prosecutors charged the trio last year with illegally trading on inside information about Trump Media & Technology Group's (TMTG) plan to go public through a merger with a blank-check company. TMTG operates Truth Social, Trump's main social media platform. Prosecutors said the trio signed confidentiality agreements in June 2021 when they were approached to become early investors in Digital World Acquisition, the blank-check company. The agreements required them to keep information they learned confidential and not trade the company's securities in the open market, prosecutors said. After hearing the company was in merger talks with TMTG, prosecutors said the trio tipped others and bought Digital World securities, selling them after the deal was announced on Oct. 20, 2021, to make a total of $22 million in illegal profit. Michael and Gerald Shvartsman said in court that they knew what they were doing was wrong when they traded on nonpublic information. Also read: Trump's Truth Social faces $4 billion plunge in value as losses mount "I've made a terrible mistake," Gerald Shvartsman said at the hearing. "Insider trading is cheating, plain and simple," U.S. Attorney Damian Williams said in a statement after the pleas. The Shvartsmans are scheduled to be sentenced on July 17. Securities fraud carries a maximum sentence of 20 years in prison, but any sentence would be imposed by the judge based on a range of factors. The average prison sentence in federal fraud cases in the U.S. last year was around two years. TMTG was publicly listed in late March, and its shares have been on a wild ride fueled by speculators betting on enthusiasm for Trump, the Republican presidential candidate in November's election. The stock shed early gains this week as Truth Social's parent company disclosed it had lost more than $58 million in 2023. Also read: Trump posts $175mn bond in NY civil fraud case TMTG shares finished trading at $48.81 on Wednesday, making Trump's stake worth about $3.8 billion, though he is not allowed to sell or borrow against it for six months. Trump Media is also embroiled in legal battles in Delaware and Florida with co-founders Wesley Moss and Andrew Litinsky, who have accused the company of trying to improperly dilute their stake. Trump Media has argued they failed to earn their shares and seeks to strip them of their ownership.

Two plead guilty to insider trading related to Trump Media merger

The US Securities and Exchange commission has approved a merger deal for Donald Trump's media and technology group, valuing the combined entity at $10 billion. This deal involves truth social, Trump's social media platform, merging with a special purpose acquisition company, or S-P-A-C.

Regulator approves Donald Trump media merger

Three Florida men were arrested on Thursday and charged with illegally making more than $22 million by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by former President Donald Trump public. 
 
The charges were outlined in an indictment unsealed in Manhattan federal court that did not implicate Trump in any way. The indictment was among four separate insider trading cases brought against 10 people, including a Pfizer employee and an investment firm executive director. 
 
According to the indictment pertaining to the media company, the men were invited to invest in the special purpose acquisition company, Digital World Acquisition Corp., and were provided confidential information that a potential target of DWAC and another acquisition company, Benessere Capital Acquisition Corp., was Trump Media and Technology Group. 
 
Authorities said the defendants bought millions of dollars of DWAC securities on the open market before news of the Trump media business was made public. 
 
After the public announcement, the men dumped their securities for a significant profit, according to the court papers.

&nbsp;“Insider trading is not easy money,” US Attorney Damian Williams said in a release. “It's cheating. It's a bad bet. Because my Office, the Southern District of New York, is watching. And we're working quickly to investigate and prosecute anyone who corrupts our financial markets. And we'll keep at it as long as it takes. You can bet on that.” 
 
The arrested men were identified as Michael Shvartsman, 52, of Sunny Isles Beach, Florida; Gerald Shvartsman, 45, of Aventura, Florida; and Bruce Garelick, 53, of Fort Lauderdale, Florida. It was unclear who would represent them at Thursday afternoon initial court appearances in Miami. 
 
Michael Shvartsman owned Rocket One Capital LLC, a venture capital firm. His brother, Gerald Shvartsman, was Rocket One's chief investment officer, according to court papers. 
 
According to the indictment, Garelick was given a seat on DWAC's board of directors and had access to confidential information. It said he then shared that information with his co-conspirators. 
 
A lawyer who has represented Garelick in the past did not immediately return a message seeking comment Thursday. 
 
The indictment said that between June 2021 and November 2021, the men purchased securities including warrants of their own and shared the secrets with their friends and employees, who also bought tens of thousands of units of securities ahead of the merger announcement with Trump Media and Technology Group. 
 
Typically, a special purpose acquisition company, or SPAC, is formed with the intent to merge with a private company before the private company becomes publicly traded. 
 
In early 2021, representatives of Trump Media, including Trump, began communicating with&nbsp; Benessere about potentially merging to take Trump Media public, the indictment said. 
 
Between March and June 2021, Trump Media and Benessere entered into nonbinding letters of intent to merge, it said.

The letters required confidentiality but did allow Benessere and its agents to share confidential information with investors in the special purpose acquisition companies, the indictment said. 
&nbsp;

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Three Florida men were arrested on Thursday and charged with illegally making more than $22 million by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by former President Donald Trump public.

Three Florida men were arrested on Thursday and charged with illegally making more than $22 million by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by former President Donald Trump public. The charges were outlined in an indictment unsealed in Manhattan federal court that did not implicate Trump in any way. The indictment was among four separate insider trading cases brought against 10 people, including a Pfizer employee and an investment firm executive director. According to the indictment pertaining to the media company, the men were invited to invest in the special purpose acquisition company, Digital World Acquisition Corp., and were provided confidential information that a potential target of DWAC and another acquisition company, Benessere Capital Acquisition Corp., was Trump Media and Technology Group. Authorities said the defendants bought millions of dollars of DWAC securities on the open market before news of the Trump media business was made public. After the public announcement, the men dumped their securities for a significant profit, according to the court papers. “Insider trading is not easy money,” US Attorney Damian Williams said in a release. “It's cheating. It's a bad bet. Because my Office, the Southern District of New York, is watching. And we're working quickly to investigate and prosecute anyone who corrupts our financial markets. And we'll keep at it as long as it takes. You can bet on that.” The arrested men were identified as Michael Shvartsman, 52, of Sunny Isles Beach, Florida; Gerald Shvartsman, 45, of Aventura, Florida; and Bruce Garelick, 53, of Fort Lauderdale, Florida. It was unclear who would represent them at Thursday afternoon initial court appearances in Miami. Michael Shvartsman owned Rocket One Capital LLC, a venture capital firm. His brother, Gerald Shvartsman, was Rocket One's chief investment officer, according to court papers. According to the indictment, Garelick was given a seat on DWAC's board of directors and had access to confidential information. It said he then shared that information with his co-conspirators. A lawyer who has represented Garelick in the past did not immediately return a message seeking comment Thursday. The indictment said that between June 2021 and November 2021, the men purchased securities including warrants of their own and shared the secrets with their friends and employees, who also bought tens of thousands of units of securities ahead of the merger announcement with Trump Media and Technology Group. Typically, a special purpose acquisition company, or SPAC, is formed with the intent to merge with a private company before the private company becomes publicly traded. In early 2021, representatives of Trump Media, including Trump, began communicating with Benessere about potentially merging to take Trump Media public, the indictment said. Between March and June 2021, Trump Media and Benessere entered into nonbinding letters of intent to merge, it said. The letters required confidentiality but did allow Benessere and its agents to share confidential information with investors in the special purpose acquisition companies, the indictment said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Three charged in insider trading case related to Trump media, accused of making $22 million

Former United States president Donald Trump's company Trump Media has filed a $3.78 billion defamation lawsuit against Washington Post (WaPo) for a report about the Truth Social platform.

Former United States president Donald Trump's company Trump Media has filed a $3.78 billion defamation lawsuit against Washington Post (WaPo) for a report about the Truth Social platform. According to a report by The Independent on Monday (May 22), the lawsuit filed in Florida's Sarasota County claimed that a May 13 report alleging the company might have committed securities fraud was false and defamatory, and posed an “existential threat”. The article titled- "Trust linked to porn-friendly bank could gain a stake in Trump’s Truth Social” alleged the company concealed key details about a proposed merger from the Securities and Exchange Commission (SEC) and shareholders, citing internal documents given by a whistleblower. According to the lawsuit, the Washington Post was on a years-long crusade to undermine Trump Media. The lawsuit claimed that the clickbait headline of the report "immediately grabbed the common mind of readers, falsely insinuating that TMTG ( Trump Media & Technology Group) was involved in shady business dealings.” What does the WaPo report say? The Washington Post report has cast aspersions on Trump Media's business practices, saying the company failed to disclose investments to the SEC multiple times. “[TMTG] borrowed money from a bank best known for servicing adult entertainment, pledged a stake in the company for the loan and didn’t tell the SEC,” the WaPo report said. The source of the report was Will Wilkerson, a former employee of Trump media. "WaPo has been on a years-long crusade against TMTG characterized by the concealment of relevant information in its possession—a bitterly ironic truth for a publication whose motto is ‘Democracy Dies in Darkness,’" the court filing said and pointed out that Wilkerson knew that Washington Post published fake stories about TMTG, its CEO, Devin Nunes and Donald Trump, Fox News reported. "Wilkerson contacted WaPo with a salacious story about a porn-friendly bank and securities fraud. Through a series of meetings and conversations with Wilkerson and his lawyers, WaPo undertook with Wilkerson to publish agreed false and defamatory statements to injure TMTG," the court filing added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Trump Media files $3.78 billion defamation lawsuit against Washington Post: Reports

Trump Media — the media company of former United States president Donald Trump — is under investigation for possible money laundering linked to Russia. According to a report by the Guardian on Wednesday (March 15), federal prosecutors involved in the investigation into Trump Media last year have now started examining whether it violated money laundering statutes in connection with the acceptance of $8 million with suspected Russian ties.&nbsp;

Citing sources, the report said that towards the end of 2022, federal prosecutors had started examining two loans totalling $8 million wired to Donald Trump's company, through the Caribbean, from two obscure entities that appeared to be controlled in part by the relation of an ally of Russian president Vladimir Putin.&nbsp;

ALSO READ | <a href="https://www.wionews.com/world/new-book-letters-to-trump-will-show-queen-elizabeth-princess-diana-kissed-my-a-says-donald-trump-572173">New book 'Letters to Trump' will show Queen Elizabeth, Princess Diana 'kissed my a**,' says Donald Trump</a>

The investigation threatened to delay the completion of the merger between Trump Media and the Digital World Acquisition Corp (DWAC), which would provide the company and Truth Social with up to $1.3 billion in capital, in addition to a stock market listing.&nbsp;

The report also said that the extent of the exposure of Trump Media and its officials for money laundering remained unclear. The statutes broadly required prosecutors to show that defendants knew the money was the proceeds of some form of illegal activity and the transaction was designed to conceal its source.

Of this $8 million, the first payment of $2 million came to Trump Media in December 2021 when it was on the verge of collapse after the planned merger with the DWAC was delayed when the SEC opened an inquiry into whether the arrangement broke regulatory rules.

Trump Media required a bridge loan to keep afloat. However, it was struggling to get finances until Patrick Orlando, the chief executive of the DWAC, sourced a $2 million loan wired from Paxum Bank- which is registered in Dominica, as per the wire transfer receipt. The transfer showed that Paxum Bank was the beneficial owner.&nbsp;

But, a promissory note identified ES Family Trust as the lender. And two months later, the second payment of $6 million arrived in Trump Media’s account from ES Family Trust.&nbsp;

The report said that even though these two payments to the company came from separate entities, Angel Pacheco,&nbsp;a trustee of the ES Family Trust,&nbsp;appeared to have simultaneously been a director of Paxum Bank.

The Russian connection in this investigation centred on Anton Postolnikov,&nbsp;a part owner of the bank. Postolnikov appeared to be a relation to Russian President Putin's ally Aleksandr Smirnov. Smirnov worked in the Central Office of the Russian government until 2017. And before this, Smirnov was the country's first deputy minister of justice until 2014.&nbsp; 
 
(With inputs from agencies) 
&nbsp;

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Trump Media — the media company of former United States president Donald Trump — is under investigation for possible money laundering linked to Russia. According to a report by the Guardian on Wednesday (March 15), federal prosecutors involved in the investigation into Trump Media last year have now started examining whether it violated money laundering statutes in connection with the acceptance of $8 million with suspected Russian ties.

Trump Media — the media company of former United States president Donald Trump — is under investigation for possible money laundering linked to Russia. According to a report by the Guardian on Wednesday (March 15), federal prosecutors involved in the investigation into Trump Media last year have now started examining whether it violated money laundering statutes in connection with the acceptance of $8 million with suspected Russian ties. Citing sources, the report said that towards the end of 2022, federal prosecutors had started examining two loans totalling $8 million wired to Donald Trump's company, through the Caribbean, from two obscure entities that appeared to be controlled in part by the relation of an ally of Russian president Vladimir Putin. ALSO READ | New book 'Letters to Trump' will show Queen Elizabeth, Princess Diana 'kissed my a**,' says Donald Trump The investigation threatened to delay the completion of the merger between Trump Media and the Digital World Acquisition Corp (DWAC), which would provide the company and Truth Social with up to $1.3 billion in capital, in addition to a stock market listing. The report also said that the extent of the exposure of Trump Media and its officials for money laundering remained unclear. The statutes broadly required prosecutors to show that defendants knew the money was the proceeds of some form of illegal activity and the transaction was designed to conceal its source. Of this $8 million, the first payment of $2 million came to Trump Media in December 2021 when it was on the verge of collapse after the planned merger with the DWAC was delayed when the SEC opened an inquiry into whether the arrangement broke regulatory rules. Trump Media required a bridge loan to keep afloat. However, it was struggling to get finances until Patrick Orlando, the chief executive of the DWAC, sourced a $2 million loan wired from Paxum Bank- which is registered in Dominica, as per the wire transfer receipt. The transfer showed that Paxum Bank was the beneficial owner. But, a promissory note identified ES Family Trust as the lender. And two months later, the second payment of $6 million arrived in Trump Media’s account from ES Family Trust. The report said that even though these two payments to the company came from separate entities, Angel Pacheco, a trustee of the ES Family Trust, appeared to have simultaneously been a director of Paxum Bank. The Russian connection in this investigation centred on Anton Postolnikov, a part owner of the bank. Postolnikov appeared to be a relation to Russian President Putin's ally Aleksandr Smirnov. Smirnov worked in the Central Office of the Russian government until 2017. And before this, Smirnov was the country's first deputy minister of justice until 2014. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Trump media under federal investigation for possible money laundering: Report

It&rsquo;s already being called &ldquo;a press conference for the ages&rdquo;, the moment when a US President grabbed a microphone and waded into the frontlines of his administration&rsquo;s war with the media.

After weeks of bungled press briefings by his White House Press Secretary Sean Spicer, Donald Trump held forth on everything from ratings to Russia in front of a shocked press corps.

This was a man visibly frustrated with the portrayal of his first month in office, railing against what he labelled &ldquo;unfair&rdquo; treatment by the press.

He began by describing his election victory over Hillary Clinton, calling it &ldquo;the biggest electoral college win since Ronald Reagan&rdquo;.

This claim was immediately pointed out to be false, with Bill Clinton, George H.W. Bush and Barack Obama all piling up higher totals in electoral college votes since Reagan left office.

Trump then turned to accusations of chaos inside his own team. &ldquo;This administration is running like a fine-tuned machine,&rdquo; he said.

But that same administration is currently reeling from the forced resignation of its National Security Adviser, Michael Flynn.

Trump&rsquo;s top pick to replace him, Robert Harward, reportedly turned down the job because of concerns about internal chaos at the White House.

Almost one month into his term, Trump is also still mired in a tough battle to confirm his nominees for the cabinet.

Vice President Mike Pence had to take the unprecedented step of casting a deciding vote in the Senate to break a tie over Betsy DeVos&rsquo; confirmation as Education Secretary.

His pick for Labour Secretary, Andrew Puzder, withdrew his nomination facing strong opposition from a Congress that Trump&rsquo;s own party controls.

Meanwhile the constant drip, drip, drip of leaks is dragging the administration into new scandals almost every day. But in an electrifying press conference, Trump refused to acknowledge the accuracy of stories being written based on that leaked information.

He told the gathered reporters that &ldquo;the leaks are real&rdquo; but &ldquo;the news is fake&rdquo;.

In another tense exchange with the BBC&rsquo;s Jon Sopel, Trump claimed that his executive order on immigration had a &ldquo;very smooth rollout&rdquo;.

But before the US courts blocked it, the travel ban triggered chaotic scenes at airports and mass protests across the country.

After a press conference that CNN&rsquo;s Jake Tapper labelled &ldquo;wild&rdquo; and &ldquo;unhinged&rdquo;, Trump is returning to familiar ground this weekend by holding a rally in Florida.

The event gives him an opportunity to address his supporters without having to take challenging questions from journalists.

This refusal to deviate from a single interpretation of events &ndash; what Kellyanne Conway calls &ldquo;alternative facts&rdquo; &ndash; was a hallmark of the Trump campaign. It is now becoming a hallmark of this new administration.

At a short joint press conference during Israeli Prime Minister Benjamin Netanyahu&rsquo;s visit, the president only took two questions. Both were given to news organisations widely recognised to hold conservative views and therefore unlikely to ask a difficult question.

Trump&rsquo;s supporters say his plain-speaking style is one of the main reasons they elected him in the first place.

But his opponents say plain speaking is turning into a refusal to engage with the facts.

(WION) 
&nbsp;

As the end of his first month in office approaches, Donald Trump is waging a personal war with the press

It’s already being called “a press conference for the ages”, the moment when a US President grabbed a microphone and waded into the frontlines of his administration’s war with the media. After weeks of bungled press briefings by his White House Press Secretary Sean Spicer, Donald Trump held forth on everything from ratings to Russia in front of a shocked press corps. This was a man visibly frustrated with the portrayal of his first month in office, railing against what he labelled “unfair” treatment by the press. He began by describing his election victory over Hillary Clinton, calling it “the biggest electoral college win since Ronald Reagan”. This claim was immediately pointed out to be false, with Bill Clinton, George H.W. Bush and Barack Obama all piling up higher totals in electoral college votes since Reagan left office. Trump then turned to accusations of chaos inside his own team. “This administration is running like a fine-tuned machine,” he said. But that same administration is currently reeling from the forced resignation of its National Security Adviser, Michael Flynn. Trump’s top pick to replace him, Robert Harward, reportedly turned down the job because of concerns about internal chaos at the White House. Almost one month into his term, Trump is also still mired in a tough battle to confirm his nominees for the cabinet. Vice President Mike Pence had to take the unprecedented step of casting a deciding vote in the Senate to break a tie over Betsy DeVos’ confirmation as Education Secretary. His pick for Labour Secretary, Andrew Puzder, withdrew his nomination facing strong opposition from a Congress that Trump’s own party controls. Meanwhile the constant drip, drip, drip of leaks is dragging the administration into new scandals almost every day. But in an electrifying press conference, Trump refused to acknowledge the accuracy of stories being written based on that leaked information. He told the gathered reporters that “the leaks are real” but “the news is fake”. In another tense exchange with the BBC’s Jon Sopel, Trump claimed that his executive order on immigration had a “very smooth rollout”. But before the US courts blocked it, the travel ban triggered chaotic scenes at airports and mass protests across the country. After a press conference that CNN’s Jake Tapper labelled “wild” and “unhinged”, Trump is returning to familiar ground this weekend by holding a rally in Florida. The event gives him an opportunity to address his supporters without having to take challenging questions from journalists. This refusal to deviate from a single interpretation of events – what Kellyanne Conway calls “alternative facts” – was a hallmark of the Trump campaign. It is now becoming a hallmark of this new administration. At a short joint press conference during Israeli Prime Minister Benjamin Netanyahu’s visit, the president only took two questions. Both were given to news organisations widely recognised to hold conservative views and therefore unlikely to ask a difficult question. Trump’s supporters say his plain-speaking style is one of the main reasons they elected him in the first place. But his opponents say plain speaking is turning into a refusal to engage with the facts. (WION)

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Trump Media shares tank after filing shows more stock may be sold

Two plead guilty to insider trading related to Trump Media merger

Regulator approves Donald Trump media merger

Three charged in insider trading case related to Trump media, accused of making $22 million

Trump Media files $3.78 billion defamation lawsuit against Washington Post: Reports

Trump media under federal investigation for possible money laundering: Report

Donald Trump versus the media