Trump SPAC stock surged after Google added Truth Social to the Play Store.

The Truth social network logo is shown behind a woman holding a smartphone in this photo illustration, taken on February 21, 2022.Dado Ruvic | ReutersShares from Digital World Acquisition Corp., a company targeting former President Donald Trump’s media go public, surged in after-hours trading after Google added the Truth Social app to the Play Store. This platform was previously banned from the Play Store. Content moderation issues. Google has stated that the app has violated the User-Generated Content Review Policy. “If the app complies with the developer guidelines, including the requirement to effectively moderate user-generated content and remove objectionable posts such as incitement to violence, Google Play can be distributed to ,” a Google spokesperson said. According to Google, True Social has agreed to enforce a content moderation policy, including removing or blocking users posting posts that promote violence. Twitter banned Trump “due to the risk of further incitement to violence” after hundreds of Trump supporters attacked the Capitol in January 2021. That action spurred Trump to create Truth Social. Truth Social is now available to 44% of US smartphone users with Android. Before the app’s usage restrictions were lifted, Android users had to access Truth Social from their phone’s web browser or “sideloaded” through another website. The app is available on Apple’s App Store. Google restored its Truth Social-like platform, Parler, to the Play Store in September after the app was significantly modified to comply with Google’s policies. CNBC reached out to DWAC and the Trump Media and Technology Group. The news pushed DWAC, the so-called blank check company, to a further vote to postpone its merger with Trump Media. DWAC, led by CEO Patrick Orlando, has so far failed to secure the 65% required to extend the merger term. DWAC is due to liquidate on December 8, unless an extension is approved. DWAC’s private investors were expected to provide $1 billion to Trump Media once the merger is complete. However, at least $138 million of that money was withdrawn and the company moved its address to the UPS Store. The DWAC-Trump Media transaction was the subject of a Justice Department investigation into potential securities violations for discussion between the two companies prior to the announcement of the merger last fall. Trump founded Truth Social after being banned from Twitter for tweets in January. On February 6, 2021, when his followers raided the US Capitol in a violent attempt to prevent Congress from confirming Joe Biden’s victory in the presidential election. 80 million followers. Musk said he would get Trump back on Twitter. Trump has around 4 million followers on Truth Social, and Trump Media whistleblower William Wilkerson has provided the SEC with insider documents. He filed a complaint with the regulator, alleging a securities violation. “One way or another, this company is going to go bankrupt,” Wilkerson recently told the Miami Herald. “I don’t think the company will get SEC approval.” DWAC also warned that further damage to Trump’s reputation could jeopardize the company. Trump, who is considering another run for president in 2024, faces a federal criminal investigation into illegally storing and concealing sensitive national security documents after leaving the White House. % by the year.
#Trump #SPAC #stock #surged #Google #added #Truth #Social #Play #Store

Leave a Comment

Your email address will not be published. Required fields are marked *