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Wan LixinOpinion deputy editor of Shanghai Daily
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Trump firm deal probed
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United States regulators are scrutinizing a deal between Donald Trump鈥檚 fledgling social media company and an investment vehicle to bring the former president鈥檚 venture to the stock market, documents showed on Monday.
The companies, once merged, say they plan to launch the social media platform 鈥淭RUTH Social鈥 nationally early next year, hoping to rival services like Twitter, which banned Trump over the January US Capitol riot.
Digital World Acquisition Corp, which is partnering with Trump, reported in a filing to the Securities and Exchange Commission that it received 鈥減reliminary, fact-finding inquiries from regulatory authorities, with which it is cooperating.鈥
Already-listed Digital World announced in late October it would merge with Trump Media & Technology Group, allowing the ex-president鈥檚 venture to be listed without the usual procedures.
The two firms said on Saturday that a group of institutional investors had committed to contributing US$1 billion to the transaction.
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