⚯ Michel de Cryptadamus ⚯<p>Excellent explanation of Howard Lutnick's kids' new "bitcoin acquisition SPAC" partnership with <a href="https://universeodon.com/tags/Softbank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Softbank</span></a> and <a href="https://universeodon.com/tags/Tether" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tether</span></a> headed up by <a href="https://universeodon.com/tags/JackMallers" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>JackMallers</span></a> AKA "the crypto bro who cried on stage about El Salvador's bright new bitcoin future."</p><p>The venture is basically just another version of the <a href="https://universeodon.com/tags/Microstrategy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Microstrategy</span></a> pyramid scheme, brought to you by the children of Trump's cabinet members.<br><a href="https://x.com/OccamiCrypto/status/1915069879532806583" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">x.com/OccamiCrypto/status/1915</span><span class="invisible">069879532806583</span></a></p><p>p.s. the CFO of this new venture was formerly head of UBS <a href="https://universeodon.com/tags/Russia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russia</span></a>.</p><p><a href="https://universeodon.com/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>uspol</span></a> <a href="https://universeodon.com/tags/HowardLutnick" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>HowardLutnick</span></a> <a href="https://universeodon.com/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> <a href="https://universeodon.com/tags/bitcoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>bitcoin</span></a> <a href="https://universeodon.com/tags/ElSalvador" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ElSalvador</span></a> <a href="https://universeodon.com/tags/NayibBukele" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NayibBukele</span></a> <a href="https://universeodon.com/tags/Moneylaundering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Moneylaundering</span></a> <a href="https://universeodon.com/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>corruption</span></a> <a href="https://universeodon.com/tags/MasayoshiSon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MasayoshiSon</span></a> <a href="https://universeodon.com/tags/nepotism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>nepotism</span></a> <a href="https://universeodon.com/tags/MSTR" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MSTR</span></a></p>
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#spac
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⚯ Michel de Cryptadamus ⚯<p>new Trump crime family crypto SPAC is called "Renatus Tactical Acquisition Corp I" and is registered in the Cayman Islands because "America First".</p><p>(by "Trump crime family" I don't mean like, Trump's kids. the people involved here are Devin Nunes (CEO of Truth Social) and some guys from the original DWAC SPAC that gave us <a href="https://universeodon.com/tags/DJT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DJT</span></a>.</p><p>also a reminder that <a href="https://universeodon.com/tags/TruthSocial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TruthSocial</span></a> had already announced it would be using its capital to "invest" in <a href="https://universeodon.com/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cryptocurrency</span></a> a few months ago.</p><p><a href="https://www.fintechweekly.com/magazine/articles/trump-media-executives-launch-179-million-usd-spac-aimed-at-crypto-and-blockchain-deals" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">fintechweekly.com/magazine/art</span><span class="invisible">icles/trump-media-executives-launch-179-million-usd-spac-aimed-at-crypto-and-blockchain-deals</span></a></p><p><a href="https://universeodon.com/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> <a href="https://universeodon.com/tags/SPACs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPACs</span></a> <a href="https://universeodon.com/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>uspol</span></a> <a href="https://universeodon.com/tags/trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>trump</span></a> <a href="https://universeodon.com/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>corruption</span></a> <a href="https://universeodon.com/tags/crypto" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>crypto</span></a> <a href="https://universeodon.com/tags/blockchain" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>blockchain</span></a> <a href="https://universeodon.com/tags/EricSwider" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EricSwider</span></a> <a href="https://universeodon.com/tags/AlexanderCano" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AlexanderCano</span></a> <a href="https://universeodon.com/tags/DevinNunes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DevinNunes</span></a> <a href="https://universeodon.com/tags/DJT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DJT</span></a> <a href="https://universeodon.com/tags/TrumpCoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpCoin</span></a></p>
butter<p>Holy shit how beautiful <a href="https://shakedown.social/tags/phish" class="mention hashtag" rel="tag">#<span>phish</span></a> opens with Box of Rain <a href="https://shakedown.social/tags/spac" class="mention hashtag" rel="tag">#<span>spac</span></a></p>
Nonilex<p>…In simplified form, the process involves 2 basic parties. One is a private company that wants to go public. The other is a <a href="https://masto.ai/tags/ShellCompany" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ShellCompany</span></a> that is already trading on the <a href="https://masto.ai/tags/StockMarket" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>StockMarket</span></a> but has no operations — just a pile of cash that it can use to acquire a business. <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> shells are often called “<a href="https://masto.ai/tags/BlankCheck" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BlankCheck</span></a>” companies because their investors have given them a certain amount of money but have no idea yet who the check will be made out to.</p><p><a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/FEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FEC</span></a> <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> <br><a href="https://masto.ai/tags/VoteBlue" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VoteBlue</span></a> <a href="https://masto.ai/tags/Harris2024" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Harris2024</span></a></p>
Nonilex<p>Celebrities & athletes were looking to join the frenzy, from Shaquille O’Neal to Martha Stewart. Even if their business plans were fundamentally stupid, even if mom-&-pop investors would later lose nearly all their money, the people who got in on a <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> at the beginning could make a pile.</p><p><a href="https://masto.ai/tags/Fraud" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Fraud</span></a>, acc/to the <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a>, began almost immediately. </p><p><a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/FEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FEC</span></a> <br><a href="https://masto.ai/tags/VoteBlue" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VoteBlue</span></a> <a href="https://masto.ai/tags/Harris2024" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Harris2024</span></a></p>
Nonilex<p>Taking <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> public may not have been possible w/o the rise of an obscure financial instrument, the special-purpose-acquisition company [<a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>]. In 2020, the pandemic stock market was surging, & the perception among entrepreneurs was that SPACs let private companies get in on the action quicker & w/less <a href="https://masto.ai/tags/oversight" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>oversight</span></a> than the traditional way of going public, the <a href="https://masto.ai/tags/IPO" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>IPO</span></a>.</p><p><a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/FEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FEC</span></a> <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> <br><a href="https://masto.ai/tags/VoteBlue" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VoteBlue</span></a> <a href="https://masto.ai/tags/Harris2024" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Harris2024</span></a></p>
Nonilex<p><a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> Media & Tech stock fell 18%, erasing hundreds of millions from its *market value* — & putting a dent in Trump’s majority stake, worth >$3B. Since a surge in its 1st days of trading as <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a>, which lifted the value of the co to ~$8B at one point, the company’s shares have dropped by >50%.</p><p>Trump Media was expected to register the potential sale of new shares after the completion of its merger w/ <a href="https://masto.ai/tags/DWAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWAC</span></a>, a <a href="https://masto.ai/tags/ShellCompany" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ShellCompany</span></a> known as a <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>.</p>
Nonilex<p><a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a>’s <a href="https://masto.ai/tags/SocialMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SocialMedia</span></a> company <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a> went public last week only after it had been kept afloat in 2022 by emergency <a href="https://masto.ai/tags/loans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>loans</span></a> from a <a href="https://masto.ai/tags/trust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>trust</span></a> managed by a <a href="https://masto.ai/tags/Russian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russian</span></a>-American businessman under scrutiny in a federal <a href="https://masto.ai/tags/InsiderTrading" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>InsiderTrading</span></a> & <a href="https://masto.ai/tags/MoneyLaundering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MoneyLaundering</span></a> <a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> investigation.</p><p>Trump stands to gain billions… from the merger between TrumpMedia & Tech & the blank-check co [<a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>] <a href="https://masto.ai/tags/DWAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWAC</span></a>, which took the parent company of <a href="https://masto.ai/tags/TruthSocial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TruthSocial</span></a> public.</p><p><a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/NationalSecurity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NationalSecurity</span></a><br><a href="https://www.theguardian.com/us-news/2024/apr/03/trump-media-es-family-trust-2022-loans" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">theguardian.com/us-news/2024/a</span><span class="invisible">pr/03/trump-media-es-family-trust-2022-loans</span></a></p>
joe•iuculano :mastodon:<p>Via <a href="https://masto.ai/tags/CNN" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CNN</span></a>'s <a href="https://masto.ai/tags/MattEgan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MattEgan</span></a></p><p>The value of <a href="https://masto.ai/tags/DonaldTrump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DonaldTrump</span></a>'s stake in <a href="https://masto.ai/tags/TruthSocial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TruthSocial</span></a> owner <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a> plunged by $1 billion today as its share price got hit by a bit of a reality check.</p><p>Trump Media disclosed losing $58M in '23 on revenue of $4.1M.</p><p><a href="https://masto.ai/tags/SocialMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SocialMedia</span></a> <a href="https://masto.ai/tags/DJT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DJT</span></a> <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a><br><a href="https://masto.ai/tags/TrumpIsALoser" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpIsALoser</span></a></p><p><a href="https://www.cnn.com/2024/04/01/media/truth-social-trump-media-stock-losses/index.html" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">cnn.com/2024/04/01/media/truth</span><span class="invisible">-social-trump-media-stock-losses/index.html</span></a></p>
Nonilex<p>Truth Social Won't Bail <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> Out</p><p>Yes, the company went public. No, it is not a financial success—or even a lifeboat.</p><p>Debuting on the charts w/a “DJT” ticker, <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a> saw a 55% surge in valuation right after markets opened.</p><p>Huge influx of cash, right? w/Trump holding ~79M shares, equating to 58% of available stock, the <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> debut balloons his <a href="https://masto.ai/tags/NetWorth" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NetWorth</span></a> by nearly $5B; there were ~136M shares outstanding post-merger.</p><p><a href="https://masto.ai/tags/finance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>finance</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/socialmedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>socialmedia</span></a> <br><a href="https://slate.com/business/2024/03/truth-social-public-trump-finances-explained.html" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">slate.com/business/2024/03/tru</span><span class="invisible">th-social-public-trump-finances-explained.html</span></a></p>
Nonilex<p>The vote Fri by investors in <a href="https://masto.ai/tags/DWA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWA</span></a> authorized the <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>, to merge w/ <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a> & <a href="https://masto.ai/tags/Tech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tech</span></a> Grp as part of a process that will avoid a more traditional <a href="https://masto.ai/tags/IPO" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>IPO</span></a>.<br>
<a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> will own ~60%, which at DWA’s current share price would be worth ~$3.3B. He & other investors could earn tens of millions more shares through an “earnout” provision tied to the stock’s performance, DWA said in an <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> filing.<br>
The merger will net TrumpMedia $300M that DWA initially raised from investors.</p><p><a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/finance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>finance</span></a> <a href="https://masto.ai/tags/SocialMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SocialMedia</span></a></p>
Nonilex<p>After <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> was booted from the <a href="https://masto.ai/tags/birdsite" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>birdsite</span></a> following the <a href="https://masto.ai/tags/Jan6" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Jan6</span></a>, 2021, <a href="https://masto.ai/tags/insurrection" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>insurrection</span></a>, 3 men played pivotal roles in building & promoting <a href="https://masto.ai/tags/TrumpMedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpMedia</span></a> as an online challenger [🤣] against the “cancel culture” of <a href="https://masto.ai/tags/BigTech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BigTech</span></a>: <a href="https://masto.ai/tags/AndyLitinsky" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AndyLitinsky</span></a> & <a href="https://masto.ai/tags/WesMoss" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WesMoss</span></a>, fmr “Apprentice” contestants who co-founded the company & launched Truth Social; & <a href="https://masto.ai/tags/PatrickOrlando" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PatrickOrlando</span></a>, who as chief exec of <a href="https://masto.ai/tags/DWA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWA</span></a>, a <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> [<a href="https://masto.ai/tags/BlankCheck" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BlankCheck</span></a>], offered Trump’s company a path to investor <a href="https://masto.ai/tags/cash" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cash</span></a>.</p><p><a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <br><a href="https://masto.ai/@Nonilex/112130283180375331" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">masto.ai/@Nonilex/112130283180</span><span class="invisible">375331</span></a></p>
Yusuf Toropov<p>@aristeon89 @uspolitics @politicalscience @geopolitics @histodons @history @sociology </p><p>COULD THIS MERGER GIVE <a href="https://toot.community/tags/TRUMP" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TRUMP</span></a> THE $500 MILLION HE NEEDS? </p><p>🧵 8/14</p><p>We are not experts on <a href="https://toot.community/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> s, but our gut feeling is that a company whose only actual asset (other than a bank account) is Trump's boutique <a href="https://toot.community/tags/socialmedia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>socialmedia</span></a> platform might not be worth $5½ billion. Remember, this is a publicly traded company and is expected to make a <a href="https://toot.community/tags/profit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>profit</span></a>.</p><p><a href="https://toot.community/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> <a href="https://toot.community/tags/BidenHarris2024" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BidenHarris2024</span></a> <a href="https://toot.community/tags/Democrats" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Democrats</span></a> <a href="https://toot.community/tags/Democrat" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Democrat</span></a></p>
Nonilex<p><a href="https://masto.ai/tags/DigitalWorldAcquisition" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DigitalWorldAcquisition</span></a>, the <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> that 1st launched the merger for <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> Media & Technology Group in 2021, said in an <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> filing late Wed that the SEC had signed off on its registration stmnt & that DWA would announce a shareholder meeting w/in 2 days to vote on the <a href="https://masto.ai/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>merger</span></a>’s adoption. DWA shares climbed Thurs morning, to ~$50.
The approval is a victory for Trump, who will hold >78M shares in the post-merger co, a filing shows —a stake that, at current prices, would be worth >$4B<br><a href="https://masto.ai/tags/tech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>tech</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a></p>
Nonilex<p>Truth Social merger deal wins key approval, a victory for <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a><br>
TFG’s stake in the post-merger company would be valued, at today’s share price, at nearly $4 billion.
The <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> has approved the <a href="https://masto.ai/tags/merger" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>merger</span></a> proposal of Trump’s <a href="https://masto.ai/tags/media" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>media</span></a> start-up w/a <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>, a critical step for a long-delayed deal that would make the owner of Trump’s website Truth Social a publicly traded company & unlock $300 million in <a href="https://masto.ai/tags/investor" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>investor</span></a> funds.</p><p><a href="https://masto.ai/tags/tech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>tech</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <br><a href="https://www.washingtonpost.com/technology/2024/02/15/truth-social-trump-merger-sec/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">washingtonpost.com/technology/</span><span class="invisible">2024/02/15/truth-social-trump-merger-sec/</span></a></p>
Chuck Darwin<p><span class="h-card" translate="no"><a href="https://a.gup.pe/u/campaignfinance" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>campaignfinance</span></a></span> </p><p>In July, Digital World said it would pay $18 million if the merger with Trump Media Group goes through, to settle SEC charges that it had misled investors and violated rules designed to counter fraud. </p><p>The biggest financial losers from the insider-trading scheme, however, probably were early Digital World investors who believed in Trump’s company enough to buy up shares in the hours after he announced the merger deal. </p><p>In the days when the insiders were cashing out, Digital World’s share price peaked at $175. Shares closed Friday at $40.60.</p><p>In June 2021, <a href="https://c.im/tags/Orlando" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Orlando</span></a> went to meet with <a href="https://c.im/tags/Shvartsman" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Shvartsman</span></a> and other prospective investors at the Miami-area offices of Rocket One, a little-known private equity firm that had marketed itself on LinkedIn as investing in “fearless entrepreneurs.”</p><p>Shvartsman had helped run a nightclub in the 1990s in Edmonton, Alberta, called Kaos that local police alleged was financed by the Russian mob, a 2022 Financial Times report said — a claim Shvartsman denied, and for which he was never charged. </p><p>He also founded Transact First, a company whose “cashless ATMs” help marijuana dispensaries transfer money from banks that would otherwise reject them as customers under federal law, according to a Bloomberg News report in 2022, which called him the “granddaddy” of the “major cashless ATM players.”</p><p>The meeting came one month after Orlando had signed a registration statement filed with the SEC saying Digital World had not “initiated any substantive discussions, directly or indirectly, with any business combination target.”<br>But messages included in an FBI affidavit indicate that Trump’s company was part of the conversation in the meeting. </p><p>In an email shortly afterward, <a href="https://c.im/tags/Garelick" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Garelick</span></a> wrote that he and Shvartsman had talked with Orlando about the “future payment processing needs for the Trump Media Group.”</p><p>One executive at Rocket One, Allen <a href="https://c.im/tags/Beyer" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Beyer</span></a>, told the firm’s leaders after the meeting that he was underwhelmed, writing in a text message that Trump’s last online venture, a blog, “was an embarrassment” and that the idea of an app just for “Forever Trumpers” would “be a bust,” the affidavit said. </p><p>“Would you ever be associated with this as a ‘founder’ or anything in case it goes up in literal flames?” Beyer wrote. <br>He did not respond to requests for comment.</p><p>Garelick replied, however, that the investment came with “downside protection,” the affidavit said. </p><p>Garelick, Shvartsman and his brother, Gerald, who ran an outdoor-furniture store, invested enough to guarantee Garelick a seat on Digital World’s board, the indictment said.</p><p>The three men had signed confidentiality agreements before the meeting saying they would not trade on the inside information. </p><p>But over the next few months, they bought up hundreds of thousands of dollars of Digital World shares and trading contracts, known as <a href="https://c.im/tags/warrants" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>warrants</span></a>, for small fractions of the price the shares would command once the deal was publicly disclosed.</p><p>The men also spoke with <a href="https://c.im/tags/Postolnikov" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Postolnikov</span></a>, another Miami-area entrepreneur who, like Shvartsman, was involved in the business of international payments. </p><p>According to British financial records, Postolnikov owns a bank headquartered on the small Caribbean island of Dominica, called Paxum, that promotes itself as a financial conduit for online adult entertainment — an industry, like marijuana dispensaries, that banks traditionally have chosen to avoid.</p><p>Born in St. Petersburg, Postolnikov had in 2017 faced an arrest warrant in his hometown on charges of tax fraud, according to a court ruling obtained by The Post. That warrant, the ruling shows, was lifted in 2018, following the direct intervention of Russia’s deputy prosecutor general, who said the case was without merit.</p><p>By 2021, Postolnikov, whose uncle, Aleksandr <a href="https://c.im/tags/Smirnov" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Smirnov</span></a>, had served for most of the last two decades as a senior member of the Russian government, was saying in online profiles he lived in Miami Beach. </p><p>In March 2021, he donated $30,000 to Florida Gov. Ron <a href="https://c.im/tags/DeSantis" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DeSantis</span></a>’s reelection campaign, campaign finance records show. </p><p>A month later, according to Miami-Dade property records, a company he owns bought a $6 million condo on Fisher Island, a private island near Miami Beach once named “America’s richest Zip code.”</p><p>In June 2021, after the meeting with Orlando, Garelick wrote Postolnikov an email referring to some “good times last night,” without details, and asked about his interest in investing in “that Trump Media Group <a href="https://c.im/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> we mentioned,” the affidavit alleges.</p><p>When Digital World announced its initial public offering in September 2021, it made no mention of <a href="https://c.im/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> and said only that it intended to focus on “middle market and emerging growth technology-focused companies in the Americas.”</p><p>But a day later, Postolnikov started buying hundreds of thousands of stock units and warrants in Digital World via a company called APLC Investments, a search warrant affidavit alleges.<br><a href="https://c.im/tags/insidertrading" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>insidertrading</span></a> <a href="https://c.im/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>corruption</span></a> <br>(2/n)</p>
Chuck Darwin<p>In October 2021, Donald Trump announced that his media company, the owner of the platform Truth Social, had sealed an incredible deal: <br>👉 a merger with a “special purpose acquisition company” that would deliver to his firm $300 million toward his promise of giving “a voice to all.”</p><p>By then, however, the insider trading by investors in the <a href="https://c.im/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>, 🔸Digital World Acquisition🔸, had already begun</p><p>Rejected by banks and lenders over the Jan. 6, 2021, insurrection and his long history of bankruptcies and business failures, Trump had approved the merger of his company with a special purpose acquisition company as a way to raise money in the months after he lost the White House. </p><p>Often called “blank check” firms, SPACs promise access to public stock investors with fewer financial disclosures than a traditional corporate listing requires</p><p>Digital World’s chief executive, Patrick <a href="https://c.im/tags/Orlando" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Orlando</span></a>, a Miami financier Trump had hosted at his golf clubs, had been telling investors privately for months that he’d been talking with Trump about the deal, the filings assert —🔸 a violation of federal securities law🔸, the Securities and Exchange Commission would say later, given his company’s pledge in regulatory filings that its leaders had held no talks with any merger targets.</p><p>One investor, the Miami Beach businessman Anton <a href="https://c.im/tags/Postolnikov" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Postolnikov</span></a>, had amassed a huge stake in Digital World. <br>Postolnikov, who was born in Russia and is the nephew of a longtime Russian government official, sold most of his stake just days after Trump’s announcement sent the stock soaring, according to an FBI agent’s search warrant affidavit. </p><p>His profit: $22 million.</p><p>Another, a Ukraine-born nightclub manager turned private equity investor named Michael <a href="https://c.im/tags/Shvartsman" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Shvartsman</span></a>, told his business partners and a neighbor about the moneymaking opportunity, according to the affidavit — before securing $18 million in profits for himself.</p><p>Shvartsman, his brother <a href="https://c.im/tags/Gerald" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Gerald</span></a>, and Bruce <a href="https://c.im/tags/Garelick" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Garelick</span></a>, the investment chief of Shvartsman’s private-equity firm ♦️Rocket One Capital♦️, have been charged with conspiracy and securities fraud in the case.</p><p>Trump’s campaign referred comment for this story to Trump Media. Jesse Binnall, an attorney for Trump Media, said in a statement that any alleged wrongdoing “had no connection to Trump Media whatsoever.” <br>Noting that Trump Media is suing The Washington Post over a previous story about the merger plans, Binnall warned that “any allegations against Trump Media are maliciously and transparently false.” <br>He did not identify any specific reporting that he alleged to be false.<br><a href="https://c.im/tags/DWAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWAC</span></a> <a href="https://c.im/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>corruption</span></a> <a href="https://c.im/tags/campaignfinance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>campaignfinance</span></a><br><span class="h-card" translate="no"><a href="https://a.gup.pe/u/campaignfinance" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@<span>campaignfinance</span></a></span><br>(1/n)</p>
Nonilex<p>…Rejected by <a href="https://masto.ai/tags/banks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>banks</span></a> & <a href="https://masto.ai/tags/lenders" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>lenders</span></a> over the <a href="https://masto.ai/tags/Jan6" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Jan6</span></a>, 2021, <a href="https://masto.ai/tags/insurrection" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>insurrection</span></a> & his long history of &bankruptcies & <a href="https://masto.ai/tags/business" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>business</span></a> <a href="https://masto.ai/tags/failures" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>failures</span></a>, <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> had approved the merger of his company w/a <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a> as a way to raise money in the months after he lost the WH. Often called “blank check” firms, SPACs promise access to public stock investors w/fewer <a href="https://masto.ai/tags/FinancialDisclosures" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinancialDisclosures</span></a> than a traditional corporate listing requires.</p><p><a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> <a href="https://masto.ai/tags/FederalSecurities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FederalSecurities</span></a></p>
Nonilex<p>In Oct 2021, <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> announced that his <a href="https://masto.ai/tags/media" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>media</span></a> company, …owner of…Truth Social, had sealed an incredible deal: a merger w/a “special purpose acquisition company” that would deliver his firm $300M….<br>
By then, however, the <a href="https://masto.ai/tags/InsiderTrading" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>InsiderTrading</span></a> by <a href="https://masto.ai/tags/investors" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>investors</span></a> in the <a href="https://masto.ai/tags/SPAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SPAC</span></a>, <a href="https://masto.ai/tags/DigitalWorldAcquisition" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DigitalWorldAcquisition</span></a>, had already begun, acc/to documents filed recently in the <a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> case against 3 <a href="https://masto.ai/tags/DWAC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DWAC</span></a> <a href="https://masto.ai/tags/investors" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>investors</span></a> who’ve been charged w/ <a href="https://masto.ai/tags/securities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>securities</span></a> <a href="https://masto.ai/tags/fraud" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>fraud</span></a> in NewYork federal court.<br>
<a href="https://masto.ai/tags/criminal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>criminal</span></a> <a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>law</span></a> <a href="https://masto.ai/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SEC</span></a> <a href="https://masto.ai/tags/FederalSecurities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FederalSecurities</span></a></p>
IT News<p>Seattle marketing company Banzai goes public, rings opening bell at Nasdaq following SPAC deal - Banzai employees rang the opening bell at Nasdaq today in New York City. (Banzai ... - <a href="https://www.geekwire.com/2023/seattle-marketing-company-banzai-goes-public-rings-the-opening-bell-at-nasdaq-following-spac-deal/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">geekwire.com/2023/seattle-mark</span><span class="invisible">eting-company-banzai-goes-public-rings-the-opening-bell-at-nasdaq-following-spac-deal/</span></a> <a href="https://schleuss.online/tags/startups" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>startups</span></a> <a href="https://schleuss.online/tags/banzai" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>banzai</span></a> <a href="https://schleuss.online/tags/nasdaq" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>nasdaq</span></a> <a href="https://schleuss.online/tags/spac" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>spac</span></a></p>
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