Donald Trump’s plan to launch “Truth Social”, a special purpose acquisitions backed social media company, early next year may have hit a roadblock after US regulators issued a request for information on the deal on Monday.

New trouble for Trump's 'Truth Social', Federal & Wall street regulators launch probe

On Tuesday, former President Trump claimed that his proposed new social media company Truth Social is a philanthropic endeavour to offer a voice to his fans who have been "silenced by Big Tech," rather than a big-bucks money-making scheme.&nbsp;

"We have fallen far down the 'slippery slope' of censorship in our country, and the topics that Americans are increasingly forbidden to debate are among the most important issues of our day," Trump said in a lengthy statement.

"We are inviting people of all political stripes, and all different viewpoints, to come and participate once again in the great American debate," he said.&nbsp;

"That's what our country is supposed to be about," the statement read. 
 
Watch | Gravitas: Here's why Donald Trump could win the 2024 Presidential Race

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The ex-president, who was banned from Twitter after a mob of his supporters invaded the Capitol last year, fueled by false claims about last year's election, to stop the Electoral College vote certification, framed his effort as an attack on Big Tech and what he claimed was its censorship.&nbsp;

Trump said that he was the "only person in America with the megaphone, the money, the expertise, and the drive" to develop the platform, and that 'Truth Social' was a critical step toward restoring democracy.

Trump is still the de facto Republican Party leader and is considering a candidacy for the White House in 2024.

However, the efforts taken by social media firms to ban him from their platforms after January 6 have greatly harmed his capacity to influence news cycles and engage with millions.&nbsp;

(With inputs from agencies)

On Tuesday, former President Trump claimed that his proposed new social media company Truth Social is a philanthropic endeavour to offer a voice to his fans who have been "silenced by Big Tech," rather than a big-bucks money-making scheme.

On Tuesday, former President Trump claimed that his proposed new social media company Truth Social is a philanthropic endeavour to offer a voice to his fans who have been "silenced by Big Tech," rather than a big-bucks money-making scheme. "We have fallen far down the 'slippery slope' of censorship in our country, and the topics that Americans are increasingly forbidden to debate are among the most important issues of our day," Trump said in a lengthy statement. "We are inviting people of all political stripes, and all different viewpoints, to come and participate once again in the great American debate," he said. "That's what our country is supposed to be about," the statement read. Watch | Gravitas: Here's why Donald Trump could win the 2024 Presidential Race The ex-president, who was banned from Twitter after a mob of his supporters invaded the Capitol last year, fueled by false claims about last year's election, to stop the Electoral College vote certification, framed his effort as an attack on Big Tech and what he claimed was its censorship. Trump said that he was the "only person in America with the megaphone, the money, the expertise, and the drive" to develop the platform, and that 'Truth Social' was a critical step toward restoring democracy. Trump is still the de facto Republican Party leader and is considering a candidacy for the White House in 2024. However, the efforts taken by social media firms to ban him from their platforms after January 6 have greatly harmed his capacity to influence news cycles and engage with millions. (With inputs from agencies)

Truth Social: Trump wants to 'SAVE' US with new social media company

Former US president Donald Trump announced his plans to launch his own social network TRUTH social. The announcement came after he was banned from Twitter and Facebook in the wake of the violent Capitol insurrection. TRUTH social will be owned by Trump Media & Technology Group.

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New trouble for Trump's 'Truth Social', Federal & Wall street regulators launch probe

Truth Social: Trump wants to 'SAVE' US with new social media company

Donald Trump to launch his own social network