Trump Social Media Blows Deadline, Still Claims $1 Billion Commitment From Secret Investors

Donald Trump’s new social media venture announced Saturday it has won a commitment for an additional $1 billion from an unidentified “diverse group of institutional investors” — even though his operation missed a partial launch deadline last month.

Trump’s “Truth Social” media venture was supposed to launch an invitation-only “beta” test version of the social media site last week, but it didn’t happen. It still only exists as a largely promotional website (with a waiting list) six weeks after Trump announced the venture.

CNBC called the deadline the first “test” of whether Trump could deliver what he promised.

The share price of Digital World Acquisition Corp.(DWAC) — the SPAC company that plans to merge with the former president’s Trump Media & Technology Group Corp. (TMTG) — has dropped dramatically since skyrocketing after the former president first announced the project.

But Trump crowed in a statement Saturday that $1 billion sends an “important message to Big Tech that censorship and political discrimination must end … As our balance sheet expands, TMTG will be in a stronger position to fight back against the tyranny of Big Tech.”

He has promised a free-for-all social media site that will apparently skirt typical limits on such issues as spreading falsehoods and hate speech.

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

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

Truth Social had an inauspicious debut when hackers quickly manipulated the site, created a fake Donald Trump account, and posted images of defecating pigs.

It ran into another snag when the developer of the open-source software being used for Truth Social warned the operation last month that it was violating the software license.

Under licensing requirements, anyone using the code must make it accessible to the public. Developer Eugen Rochko announced in October that Truth Social was given 30 days to comply with the requirements. Yet nothing appears to have changed. Trump is still not making the code available, and has even suggested that the software is owned by his operation, which it is not.

Also on HuffPost

This article originally appeared on HuffPost and has been updated.

News Related

OTHER NEWS

Meta partners FICCI to support 5 lakh women-led SMBs in India

Social media giant Meta on Friday said it has, under its #SheMeansBusiness programme, partnered with industry body FICCI to support five lakh women-led small businesses across India. The announcement was ... Read more »

Samsung Galaxy S22+ and Galaxy S22 Ultra will reportedly come with 45W fast charging support

Samsung is expected to announce the next-generation Galaxy S series flagship smartphones on February 9. Ahead of the official launch, the rumour mill has been abuzz with the leaks and ... Read more »

Elden Ring director says It Takes Two was the last game to stick with him

Elden Ring director Hidetaka Miyazaki has said the last game to leave an impression on him was co-operative platformer It Takes Two. Speaking about Elden Ring on the official PlayStation ... Read more »

Sea of Thieves is becoming more story-driven in 2022 - and I can't wait

I’ve always found there are two types of Sea of Thieves players: the ones who take it seriously and the ones who simply want to drink grog and aimlessly sail ... Read more »

The Microsoft Teams empire is about to expand even further

Microsoft has launched a new initiative designed to attract even more customers to its collaboration platform, Teams. As described in a Microsoft blog post, the company is kickstarting a device ... Read more »

FAA clears Verizon and AT&T to turn on more 5G cell towers

Federal safety regulators say they have cleared the way for Verizon and AT&T to power up more towers for new 5G service without causing radio interference with airplanes. The Federal ... Read more »

8 of the best Kate Spade bags you can buy right now

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. You know a Kate Spade bag when you see one: equal ... Read more »

This Brooklyn Bedding mattress sale is too good to miss—save 20% now

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. If you’ve been thinking about updating your sleep setup, today’s the ... Read more »

6 types of Windows malware to watch out for - and how to remove them

Windows is the most prevalent desktop operating system in the world, and therefore PCs running Microsoft’s OS are most often targeted by cybercriminals and their various strains of malware. While ... Read more »

Epic Super Bowl TV deal: Samsung's 75-inch QLED TV drops to record-low price

Super Bowl TV deals have landed at Samsung, and we’ve just spotted a massive discount on this stunning QLED TV. For a limited time, you can get Samsung’s 75-inch Neo ... Read more »

Michael Avenatti grills Stormy Daniels about prison rape comments, paranormal abilities

Michael Avenatti grilled his former client, porn star Stormy Daniels, about comments she made about him being sexually assaulted in prison and her claims that she’s able to speak to ... Read more »

Burkina Faso vs Tunisia live stream: watch AFCON online from anywhere

Tunisia have a chance of moving one step closer to glory with this intriguing AFCON quarter-final clash with Burkina Faso. Having pulled off the major giant-killing shock of knocking out ... Read more »

TikTok and Instagram pull ads by mental health company that linked ADHD to obesity

Meta and TikTok removed advertisements from a mental health care startup after the ads promoted harmful and misleading health information, NBC News reported. Cerebral, a mental health company that hired ... Read more »

UCI Cyclo-cross World Championships 2022 free live stream: how to watch cycling online from anywhere

The 2022 UCI Cyclo-cross World Championships sees the competition take place outside Europe for only the second time in the event’s 72-year history. Prepare for some mud-spattered action as the ... Read more »

7 new movies and TV shows on Netflix, Prime Video, HBO Max and more this weekend

It’s been a busy old month for television. In the last few weeks alone, we’ve seen the likes of Peacemaker, The Book of Boba Fett, Euphoria season 2 and Ozark ... Read more »

Nokia breaks Standalone 5G record using 'world first' technique

Nokia, China Mobile (CMCC) and MediaTek have achieved a record 5G Standalone (5G SA) speed of 3Gbps thanks to the world’s first test of three component carrier aggregation technology. Nearly ... Read more »

Bye-bye Spotify? How to delete your Spotify account, and where to go next to stream music

Are you ready to keep on rockin’ in the free world without Spotify? On Wednesday, Spotify agreed to pull rock icon Neil Young’s music from the streaming service after he ... Read more »

Chilling CCTV captures rapist carrying victim along street before attack

Watch: Rapist caught on camera carrying victim through streets before attack This chilling CCTV footage captures the moment a rapist carries his victim through a city centre in the early ... Read more »

Here's why it's still too early to worry about 8K TVs

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. Don’t look now, but even though you may have just recently ... Read more »

Quantum Computing Threatens Everything — Could it be Worse Than the Apocalypse?

What is a quantum computer? A quantum computer is a machine that uses the laws of quantum theory to solve problems made harder by Moore’s law (the number of transistors ... Read more »

Technological Advances Bring New Cyber Risks. Here's How to Mitigate Them.

Technology can be a wonderful thing. Properly utilized, advanced technology solutions allow us to better engage our customers, streamline ordering and invoicing processes, and increase the efficiency of our audit ... Read more »

TikTok owner ByteDance tests metaverse-like social network with new app Party Island

ByteDance, owner of short-video sharing app TikTok and its Chinese sibling Douyin, has launched a social app in China that allows users to interact in a virtual community through avatars, ... Read more »

Intel bags major victory in decade-long court battle over its rivalry with AMD

Intel has won an appeal against a penalty worth $1.2 billion handed out twelve years ago in relation to an EU antitrust investigation. The original claim, levelled by the European ... Read more »

A dirty secret: RPA is not designed for process automation

Robotic Process Automation (RPA) has had a lot of deserved success in businesses seeking to carry out basic, repetitive tasks ordinarily handled manually; think about filling out forms, extracting data ... Read more »

Quick - the Apple Watch SE is on sale for just $249 in fantastic deal at Amazon

If you’re looking to pick up a cheap Apple Watch deal, then Amazon has you covered. We’ve just spotted the already affordable Apple Watch SE on sale for just $249 ... Read more »

Real-time comms outage can cost - it's time for a back-up plan

When Facebook suffered its worst outage in its history at the start of October, more than $50bn was wiped off its value in an instant. Not only were billions of ... Read more »

iOS 15.4 brings beans, bubbles, and dozens of other emoji to iPhone

The first iOS 15.4 beta has landed, and while it comes with a number of new features, the most exciting aspect for many iPhone users might be its new emoji. ... Read more »

China to build space centre, more satellites for Pakistan

China on Friday announced plans to boost space cooperation with Pakistan, including the development of a space centre and launching of more satellites for its all-weather ally. Pakistan figures many ... Read more »

Amina Faye death: Parents jailed after baby died with more than 60 broken bones in 'despicable' abuse case

A couple have been jailed after leaving their eight-week-old baby with more than 60 broken bones before she died. Benjamin O'Shea, 26, and Naomi Johnson, 24, claimed paramedics caused the ... Read more »

Honor MWC 2022 event set for February 28: Here's what the company is expected to launch

NEW DELHI: Honor has scheduled the global launch event at the Mobile World Congress 2022 on February 28. The invite shared by the company reads, “oin us at MWC Barcelona ... Read more »

Epic Games to continue giving free games in 2022

Fortnite developer Epic Games has confirmed that it will continue to give games away in 2022.Some of the games Epic has offered in the past have been quite notable, including ... Read more »

Theresa May weighs in on Boris Johnson Partygate scandal - 'Nobody is above the law'

Former prime minister Theresa May said, like the public, she was “angry” to hear reports of suspected rule-breaking in Number 10. (PA Images) Theresa May has weighed in on the ... Read more »

Sir David Attenborough spiked by cactus on The Green Planet

The Teddy Bear Cholla cactus has the ultimate protection – a fuzzy coating of vicious spines, and Sir David Attenborough found out the hard way when filming The Green Planet ... Read more »

Team GB's biggest medal prospects at Beijing Winter Olympics

Team GB will take a squad of 50 athletes to the Winter Olympics in Beijing, with an expected medal range of between three and seven which could conceivably deliver the ... Read more »

Sally Lindsay on being inspired by Reese Witherspoon and female trailblazers, co-parenting with her husband Steve White, and working hard to make a name for herself on Coronation Street

Kate chats to trailblazing actor, producer and writer Sally Lindsay about being the Reese Witherspoon of the North, her marriage to drummer Steve White, and working hard to prove herself ... Read more »

Boris Johnson reportedly considering delay to tax hike plans as public awaits publication of Sue Gray report

Boris Johnson is reportedly considering a delay to plans to raise national insurance as the wait goes on for the publication of Sue Gray’s inquiry into partygate allegations. Read more »

Spotify removes Neil Young after Joe Rogan ultimatum

Spotify has removed Neil Young’s music after he condemned the platform for spreading Covid misinformation on their most popular podcast, The Joe Rogan Experience. Read more »

Good Morning Britain cut short over burka comments

Kate Garraway cut short a debate over ‘cancel culture’ when guest Leo Kearse claimed that women in burkas ‘look like letterboxes’. Read more »

ONS debunks ‘spurious' Covid deaths claim shared by David Davis

Photograph: Eddie Keogh/Reuters Claims shared on social media, including by the former Brexit secretary David Davis, that the true number of deaths in England and Wales caused by Covid could ... Read more »

Fastrack Reflex Vox smartwatch with 10 days battery life launched: Price, features and more

NEW DELHI: Fastrack Reflex Vox smartwatch is official in India. Fastrack has expanded its smart wearable lineup with the launch of Fastrack Reflex Vox smartwatch. The smartwatch comes with a ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic