Trump’s social media passes deadline, still calling for $ 1 billion pledge from secret investors – .

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Trump’s social media passes deadline, still calling for $ 1 billion pledge from secret investors – .


Donald Trump’s new social media firm said on Saturday it had secured a $ 1 billion pledge from an unidentified “diverse group of institutional investors” – even though his operation missed a partial launch deadline in the month latest.
Trump’s “Truth Social” media company was supposed to launch a “beta” test version of the invite-only social media site last week, but that did not happen. It still only exists as a heavily promotional website (with a waiting list) six weeks after Trump announced the company.

CNBC called the deadline the first “test” of whether Trump can keep his promises.

The share price of Digital World Acquisition Corp. (DWAC) – the company SPAC which is considering merging with former President Trump Media & Technology Group Corp. (TMTG) – Has fallen dramatically since it skyrocketed after the former president first announced the project.

But Trump sang on Saturday in a billion dollar statement sends an “important message to Big Tech that censorship and political discrimination must end … As our track record grows, TMTG will be in a stronger position to fight. against the tyranny of Big Tech. “

He promised a free-for-all social media site that apparently sidesteps typical boundaries on issues such as the spread of lies and hate speech.

Trump has been permanently banned from Twitter and other social media sites following the violence of the Jan.6 insurgency and his support for the “patriots” who stormed the Capitol. When he initially announced his plan in October, he complained that “your favorite American president has been silenced. This is unacceptable, ”he added.

TMTG and DWAC announced that “subscription agreements for $ 1 billion of committed capital” will be received from the unknown group of investors once TMTG and DWAC are combined.

Truth Social got off to a bleak start when hackers quickly manipulated the site, created a fake Donald Trump account, and posted pictures of pigs defecating.

It ran into another problem when the developer of the open source software used for Truth Social warned the operation last month that it violated the software’s license.

Under license requirements, anyone using the code must make it publicly available. Developer Eugen Rochko announced in October that Truth Social has 30 days to comply with the requirements. Yet nothing seems to have changed. Trump is still not making the code available and has even suggested that the software is owned by his company, which is not the case.

Also on HuffPost

This article originally appeared on HuffPost and has been updated.

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