Truth Social Continuing to Shed Users
Originally posted by Adam_PoE
Truth Social, the right-wing Twitter knock-off created by Donald Trump, has experienced two straight months of decline in unique visitors.According to Comscore data, Truth Social went from 4.02 million visitors in August to 3.38 million in September and then 2.85 million in October.
According to social media analyst Howard Polskin, "It suggests a decreasing interest in what Trump is saying on his platform."
Who would have thought that people who exist to "own the libs" are dissatisfied with a platform that does not permit "libs" to join? When your sport is cruelty, an echo chamber is boring.
Truth Social's average number of daily active users dropped by 19% year-over-year in April to about 113,000, according to data from Similarweb, a data intelligence company.
The Similarweb data, which captures the first 29 days of April, showed that the average number of users dipped 4% month-over-month. That drop comes despite the considerable attention received by the ongoing Trump criminal trial and the growing focus on the U.S. presidential election.
This is a problem for Truth Social and for Trump, who is not only the dominant shareholder in Trump Media, but also serves as the chairman and is the platform's most popular user.
SEC Charges Truth Social Auditor with "Massive Fraud"
Originally posted by Adam_PoE
In October 2021, Michael and Gerald Shvartsman made more than $22 million dollars in illegal profits by trading in securities of DWAC based on material, non-public information about DWAC's planned, but not yet public, business combination with Trump Media, a media company founded by Donald J. Trump.As sophisticated investors, Michael and Gerald Shvartsman were invited to invest in DWAC and another special purpose acquisition company, and after signing non-disclosure agreements, they were provided confidential information about the SPACs, including that a potential target of the SPACs was Trump Media.
As a condition of receiving this information, the defendants were prohibited by the non-disclosure agreements from disclosing the confidential information they learned or using it to buy and sell securities on the open market.
After making initial investments into DWAC through the initial public offering process, through placing their associate on DWAC's board of directors, the defendants continued to learn valuable MNPI about DWAC's plans to merge with Trump Media, such the status of the merger negotiations and the timing of a public merger announcement.
In violation of the non-disclosure agreements that they had signed, and in contravention of their associate's duties and responsibilities as a board member, the defendants bought millions of dollars of DWAC securities on the open market before the news of the Trump Media business combination was public.
The defendants also tipped others about the upcoming merger, inducing further trades in DWAC securities on the basis of the MNPI they had obtained subject to their non-disclosure agreement and through their associate's board seat.
Michael Shvartsman, 53, of Sunny Isles Beach, Florida and Gerald Shvartsman, 46, of Aventura, Florida each pled guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison.
The maximum potential sentence is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge. Michael and Gerald Shvartsman are scheduled to be sentenced by Judge Liman on July 17, 2024 at 2:00 p.m. and 3:00 p.m., respectively.
U.S. Attorney Damian Williams: "Michael and Gerald Shvartsman admitted in court that they received confidential, inside information about an upcoming merger between DWAC and Trump Media, and used that information to make profitable—but illegal—open-market trades. Insider trading is cheating—plain and simple—and today's convictions should remind anyone who may be tempted to corrupt the integrity of the stock market that it will earn them a ticket to prison."
The auditing firm for Trump Media and the auditor's owner were charged Friday with "massive fraud" by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.
The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, without admitting or denying the allegations, the SEC said.
The bombshell SEC action raised questions about the accuracy of the financial information in thousands of reports that were issued by the companies Borgers audited, including Trump Media, whose majority shareholder is Donald Trump.
Trump Sends Vetting Materials to 3 VP Candidates
Donald Trump's search for a running mate is intensifying as he awaits sentencing on felony charges, and prepares for next month's Republican National Convention.
Vice presidential contenders recently received vetting materials. Trump's top prospects are reportedly Governor Doug Burgum of North Dakota, Senator Marco Rubio of Florida, and JD Vance of Ohio.
MAGAtards Hospitalized Due to Heat at Trump Rally
Donald Trump returns to the campaign trail Thursday with a trip to the Valley, his first appearance in a battleground state since he was convicted in a hush money scandal a week ago.
Meanwhile, Phoenix Fire officials say over 50 people have been taken to hospitals complaining of heat-related symptoms. Many attendees had been waiting outside the event since the early morning hours, long before Phoenix hit 110 degrees around 1:30 p.m. Thursday afternoon.
Trump is speaking at a town hall in Phoenix organized by Turning Point, a conservative youth organization that has seen its influence rise alongside Trump's takeover of the GOP.