Trump has left the board of directors of TMTG
NBC reported that Donald Trump has left the board of directors of Trump Media & Technology, which he headed less than three months ago.
In October 2021, TMTG announced a merger with Digital World Acquisition Corp. (DWAC), which allowed the creation of a new exchange-traded company with a potential value of $ 1.7 billion.
At the end of June, the Securities Commission and the grand jury of the federal court in New York sent subpoenas to the company. It is assumed that the call is related to the investigation of the merger of Trump's company and Digital World Acquisition Corp, which is being conducted by the US Department of Justice and the SEC. According to NBC, DWAC is a "dummy company" intended for a takeover, and as a result of the merger, Trump's company will have potential access to billions of dollars in public stock markets.
The social network Truth Social on Thursday posted a message denying that Trump had left the board of directors of TMTG. The "Board of Directors" page on the Trump Media website was empty on Thursday.