The Chinese Connection to Donald Trump’s Truth Social.
According to new evidence, former President Donald Trump’s new social media initiative is financed by a company with shady Chinese ties.
Trump established Truth Social on Wednesday, vowing to “fight up to the tyranny of Big Tech,” despite being banned from Twitter and Facebook. Trump Media and Technology Group (TMTG) and Digital World Acquisition Group merged to form this company.
TMTG announced in a statement from Florida that its value will increase to $875 million, with a total value of $1.7 billion. Truth Social, which looks vaguely like Twitter, is available for pre-order on the Apple App Store, with a beta due next month and a full launch next year.
The Securities and Exchange Commission (SEC) of the United States published online files on Thursday that disclosed ostensibly indirect ties to possible business in China. Patrick Orlando, the CEO of Digital World, was also named as the CEO of China Yunhong Holdings Ltd, according to MeidasTouch News.
The company, which was created in 2019, is headquartered in Wuhan, China’s central Hubei province, and is incorporated in the Cayman Islands, an offshore tax haven.
Yunhong is a “blank check company” founded with no specific commercial goal other than to engage in mergers, securities transactions, asset acquisitions, and stock purchases, according to Chinese-language finance and investment website MoneyDJ.
Another such blank check company is Orlando’s Nasdaq-listed Digital World, which is situated in Miami.
SEC documents show that SPAC is combining with TRUTH Social, a new Trump’media firm’ headed by China Yunhong Holdings Ltd’s CEO. MeidasTouch.com (@MeidasTouch) October 21, 2021 pic.twitter.com/EgMscUz9a8 It’s unknown if Yunhong will be involved in the day-to-day operations or strategic direction of Truth Social. The Chinese government is well-known for wielding legal and ideological sway over locally operating businesses.
Truth Social was apparently hacked within hours of its opening on Wednesday, but the new platform promises to provide a safe environment for conservative perspectives for the former Republican president and his fans.
Following provocative remarks about the Capitol Riots in January and the outcome of last November’s presidential election, Trump was permanently banned from Twitter and suspended from mainstream services such as YouTube, Instagram, and Facebook.
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