#Trump Media CEO #DevinNunes [yes that tool] will be the co-CEO of the new company, along with Binderbauer. The combined company will have a 9-member board, including Nunes, Binderbauer & Donald Trump Jr. 🙄

The company, which mainly generates revenue from advertising on the Truth Social platform, has consistently clocked losses since its inception. It posted a decline in revenue & a loss of $54.8 million the third quarter ended September.

#law #emoluments #PersonalEnrichment

Calling #bitcoin a "crown jewel," #DevinNunes said the move was designed to defend the company against what he described as "discrimination by financial institutions" against *conservative* [fraudulent] businesses. The funds will also support the launch of #Trump-branded exchange-traded funds & other #crypto products later this year, pending #regulatory approval.

#law #fraud #securities #Emoluments

"Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities," said CEO #DevinNunes in a release announcing the move.

#Trump, who indirectly owns more than 114 million shares of the company through a revocable trust, remains the largest shareholder.

#law #fraud #securities #Emoluments

Earlier in Feb TMTG announced they were expanding into financial services, now they are exploring setting up "a strategic acquisition fund with select investors" and possible subsidiaries in a variety of industries.

Lofty ambitions for a company with dismal results so far.

I'll be keeping an eye on who the 'select investors' are...

#Trump #TrumpMedia #TMTG #DevinNunes #DJT

https://mastodon.social/@wendysiegelman/113928766168577328