This financial injection for Truth Social has been on hold since October 2021. Digital World Acquisition Corp., a Nasdaq-listed acquisition company, a shell company created for the purpose of buying another company, wanted to invest $1.3 billion in Donald Trump's Twitter clone, but due to civil and A criminal investigation into the circumstances of the merger has still not happened - and probably never will.

Shareholders in the special purpose acquisition company that brokered Trump Media and Technology Group's initial public offering last year have not supported extending the deadline for closing the deal by a year, threatening to jeopardize the merger.

Investigations by federal securities regulators

At the same time, Digital World Acquisition Corp. is also involved. in serious trouble. It is the subject of an investigation by federal securities regulators, who are seeking to determine, among other things, whether Donald Trump and the shell company's management negotiated investment amounts before the company went public, which would be illegal.

Without an influx of cash, Truth Social's survival is under immediate threat. It's not a healthy company - and little or nothing seems to justify a valuation above $1 billion. The social network, which launched as an alternative to Twitter, has since faced an endless series of technical, political and financial problems.

Google Play Store: “You can’t come in here!”

Precisely because Truth Social advertises that it is censorship-free, you can't really find the social network, at least in the Google Play Store, which is why Truth Social's website (only accessible in the USA or via a VPN) has links to the app. but you can only add them to your wish list .

As far as we know, it continues to refuse to officially list the Truth Social app until the company provides proof that it will moderate unlawful posts. But the site itself is often unavailable, which may also be because a large part of the technical team left the company under unclear circumstances.

Debt to the host and empty offices

Ironically, Trump's former favorite news channel Fox revealed at the end of August that Truth Social owes its main service provider, the conservative hosting company RightForge, more than $1 million. Truth Social also failed to register its name with the USPTO, the U.S. trademark administration agency.

On August 31, an American reporter who went to the address of Truth Social's headquarters found empty offices. According to the Herald Tribune, Trump's name was discreetly removed from the company's executive list in early June , something the company denies despite releasing corporate documents showing this.

However, according to its own statements from the beginning of September, despite the obvious threat of closure, Truth Social has a “solid financial basis” and will soon begin placing advertising. But we can quietly doubt the truth.

Sources: Le Monde , The Guardian , The Washington Post

Also interesting:

Trump wants his own social media platform called “TRUTH Social” – but the source code has been shamelessly stolen.
“TRUTH Social” – The platform itself is already fake


If you enjoyed this post and value the importance of well-founded information, become part of the exclusive Mimikama Club! Support our work and help us promote awareness and combat misinformation. As a club member you receive:

📬 Special Weekly Newsletter: Get exclusive content straight to your inbox.
🎥 Exclusive video* “Fact Checker Basic Course”: Learn from Andre Wolf how to recognize and combat misinformation.
📅 Early access to in-depth articles and fact checks: always be one step ahead.
📄 Bonus articles, just for you: Discover content you won't find anywhere else.
📝 Participation in webinars and workshops : Join us live or watch the recordings.
✔️ Quality exchange: Discuss safely in our comment function without trolls and bots.

Join us and become part of a community that stands for truth and clarity. Together we can make the world a little better!

* In this special course, Andre Wolf will teach you how to recognize and effectively combat misinformation. After completing the video, you have the opportunity to join our research team and actively participate in the education - an opportunity that is exclusively reserved for our club members!


Notes:
1) This content reflects the current state of affairs at the time of publication. The reproduction of individual images, screenshots, embeds or video sequences serves to discuss the topic. 2) Individual contributions were created through the use of machine assistance and were carefully checked by the Mimikama editorial team before publication. ( Reason )