Latest news with #TMTG
Yahoo
a day ago
- Business
- Yahoo
Trump Media up over 9% after buying hard asset
Trump Media up over 9% after buying hard asset originally appeared on TheStreet. Trump Media & Technology Group or TMTG (Nasdaq: DJT) announced on July 21 that it has added 2 billion worth of Bitcoin to its corporate treasury. Following the announcement, the company's stock surged by more than 8% a day to trade as high as $20.38. President Donald Trump-backed media firm announced the development just days after the House of Representatives passed three major crypto bills to oversee the market structure, stablecoin industry, and anti-CBDC stance. The media firm's latest move aligns with its previously announced Bitcoin treasury strategy plan as it looks to diversify its revenue streams. TMTG controls the social networking app Truth Social, the streaming platform Truth+, and the fintech brand Bitcoin holdings now account for two-thirds of its total liquid assets of roughly $3 billion. Around $300 million has been separately allocated for a bitcoin securities-focused options acquisition roadmap. 'These assets help ensure our Company's financial freedom, help protect us against discrimination by financial institutions,' said Trump Media CEO and President Devin Nunes. He further noted that the company plans to rigorously implement its bitcoin strategy and create a utility token to work across the Truth Social ecosystem in the coming future. Given that Trump is the largest shareholder in TMTG, the company is likely to continue engaging with cryptocurrencies moving forward. On July 8, the company indicated its plan to launch the "Truth Social Crypto Blue Chip". The firm has already submitted a filing regarding the same to the Securities and Exchange Commission (SEC). During his presidential campaign last year, Trump vowed to transform the U.S. into "the crypto capital of the world." The DJT stock was trading at $19.94 at press time. Trump Media up over 9% after buying hard asset first appeared on TheStreet on Jul 21, 2025 This story was originally reported by TheStreet on Jul 21, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
6 days ago
- Politics
- Newsweek
Trump's Truth Social, Rumble Escalate Legal War With Brazil Supreme Court
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. An escalating international free speech clash is reigniting tensions between U.S. tech platforms and the Supreme Court in Brazil. Rumble Inc. and Trump Media & Technology Group (TMTG), parent of Truth Social, have filed an amended federal lawsuit in their action against Brazilian Supreme Court Justice Alexandre de Moraes after he ordered Rumble block a U.S. citizen, court papers show. The new order from Moraes, issued July 11, demanded Rumble block the U.S. citizen, identified in legal fillings as a political commentator in Florida ("Political Dissident B") or face daily fines of 100,000 reais (about $20,000 USD) from July 13, the papers said. Rumble and TMTG accuse Justice Moraes of judicial overreach by ordering the blocking of a U.S.-based user's account on Rumble, demanding the preservation of the account's content, and requiring disclosure of identifying user data to Brazilian authorities. A spokesperson for the law firm representing Rumble, Boies Schiller Flexner, told Newsweek: "Brazil is claiming that it is combating foreign disinformation and extremism, but the issue isn't whether Brazil can regulate content within its own borders. It's that this one judge—Justice Alexandre de Moraes—is attempting to enforce Brazilian censorship standards on U.S. platforms, against U.S. citizens, for speech that occurred entirely in the United States." President of the Superior Electoral Court, Judge Alexandre de Moraes, speaks during the inauguration of the Center for Combating Disinformation and Defense of Democracy in Brasilia, Brazil, March 12, 2024. President Donald Trump speaks during... President of the Superior Electoral Court, Judge Alexandre de Moraes, speaks during the inauguration of the Center for Combating Disinformation and Defense of Democracy in Brasilia, Brazil, March 12, 2024. President Donald Trump speaks during a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa in the Oval Office of the White House, Wednesday, July 16, 2025. More Eraldo Peres/Alex Brandon/AP Photo He said the new filing brings the July 11 order before U.S. courts. "It raises urgent legal questions—not only about Moraes's violation of U.S. law and treaty with Brazil, but also about whether a foreign judge can secretly compel U.S. platforms to suppress constitutionally protected speech. The court will have to grapple with these issues, and we believe the amended complaint presents them in a clear and compelling way." Rumble has been blocked in Brazil since February following an order by the same judge. Why It Matters The amended complaint, filed July 14 in the U.S. District Court for the Middle District of Florida, marks a significant escalation in a months-long legal battle. Over the past several years de Moraes has emerged as one of the most forceful figures in Brazil's digital landscape, launching a sweeping crackdown on what he describes as online threats to the country's democratic institutions. His orders have resulted in the removal or suspension of hundreds of social media accounts, most of them affiliated with conservative and right-wing figures or causes. With freedom of speech, digital sovereignty, and cross-border law enforcement all in play, this case may well define the boundaries of online speech for years to come. What To Know The American citizen at the center of the new escalation, Political Dissident B, "has been previously targeted by Justice Moraes through suspensions of his accounts on social media platforms, retaliatory criminal proceedings in Brazil, the invalidation of his Brazilian passport, and asset freezes," lawyers for Rumble said. The new order "represents the first instance in which Justice Moraes has targeted Rumble for the account of this U.S. citizen," they added. This amended suit supplements an original complaint filed in February 2025, which challenged Justice Moraes's earlier orders against a Brazilian political dissident living abroad. A U.S. judge ruled then that the Brazilian orders could not be enforced on American soil. Now, the plaintiffs assert the latest actions reveal a broader, systematic effort by Moraes to suppress political discourse on U.S.-based platforms. Both platforms said they will not comply, labeling the order "invalid and unenforceable." Rumble and TMTG's legal response leans heavily on the Declaratory Judgment Act and First Amendment protections, arguing that extraterritorial censorship violates American constitutional rights and norms of international comity. Who Is Justice Alexandre de Moraes? Rumble has been suspended in Brazil since February 2025, on Justice Moraes' orders, for allegedly refusing to comply with court orders. To many on the Brazilian left, de Moraes is hailed as a guardian of democracy, credited with helping to stave off an alleged coup attempt following the contentious 2022 presidential election. Supporters view his actions as a necessary response, that Brazil is combating coordinated disinformation campaigns that threaten national stability and that platforms like Rumble and Truth Social have facilitated foreign interference and extremism. Critics on the right accuse de Moraes of overstepping, attempting to impose Brazil's censorship standards globally, that he represents the dangers of judicial overreach. Detractors accuse him of weaponizing his authority to silence political dissent and suppress conservative voices, raising alarms about censorship and authoritarianism in the name of public order. Justice de Moraes is a controversial figure, known for aggressive rulings aimed at curbing misinformation in Brazil. Earlier this year, he ordered X temporarily blocked in Brazil and threatened further restrictions on noncompliant platforms, sparking concerns from civil liberties advocates. The U.S. government has taken notice. According to the Financial Times, the Justice Department informed Brazilian authorities in May that such foreign orders are unenforceable in the United States. Secretary of State Marco Rubio has also threatened Magnitsky sanctions against de Moraes over alleged abuses of judicial power. What People Are Saying A spokesperson for the law firm representing Rumble, Boies Schiller Flexner, told Newsweek: "The First Amendment protects speech on American soil. Brazil has no legal authority to compel U.S.-based companies to restrict speech by U.S. citizens under U.S. law, much less through secret orders sent directly to company headquarters in Florida. That's why Rumble and Trump Media brought this suit. Moraes is putting Rumble in the situation of having to violate U.S. law to comply with his illegal order. E. Martin De Luca, Lead Attorney & Partner at Boies Schiller Flexner LLP, representing Rumble said in a LinkedIn post on July 16 that the amended filling was "triggered by a new order of Justice Alexandre de Moraes of Brazil's Supreme Court that is the most blatant defiance of both U.S. and Brazilian law yet." When the original lawsuit was filed, Rumble CEO Chris Pavlovski said: "This is a landmark battle for free speech in the digital age." Rumble called the U.S. courts order barring the Brazillian court's order to block "Political Dissident A", "a complete victory for free speech" that "sends a strong message to foreign governments that they cannot bypass U.S. law to impose censorship on American platforms." What Happens Next The amended complaint is now before U.S. District Judge Mary Stenson Scriven, who previously blocked enforcement of de Moraes's orders due to improper diplomatic service. Judge Scriven will decide whether this latest request, focused on a U.S. citizen's account, raises new legal issues.
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First Post
22-06-2025
- Business
- First Post
Trump's Truth Social crashed moments after he announced strikes on Iranian nuclear strikes
Trump's social media platform Truth Social faced disruption across US soon after he posted about strikes on Iranian nuclear sites read more US President Donald Trump's Truth Social platform suffered a major outage early Sunday (June 22), moments after he announced the bombing of Iranian nuclear sites. Downdetector reported that thousands of users faced problems and experienced server issues while trying to access the social media platform on both Windows and mobile phones. The platform crashed soon after Trump posted this: 'We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran's airspace. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home." STORY CONTINUES BELOW THIS AD In a separate post, Trump wrote: 'Fordow is gone", referring to the underground nuclear facility near Natanz. The strikes followed the deployment of B-2 stealth bombers to Guam earlier on Saturday. In announcing the operation, President Trump confirmed that B-2 bombers executed the attacks, calling it a 'historic moment' for the US, Israel, and the global community, stressing that the strike was a critical step in addressing the ongoing regional crisis. What caused Truth Social to crash? Some screenshots posted by users showed that API (Application Programming Interfaces) congestion may have caused the disruption. It's a situation when the volume of requests being sent to an API exceeds its capacity to handle them efficiently, causing drop in performance quality. Simply put, it's a traffic jam for API requests. Despite Trump's massive popularity and following on all other social media platforms, he exclusively uses his Truth Social for making announcements and posts on issues of national and international importance. His stake in Truth Social's parent company TMTG has earned him a significant portion of his net worth. Just a few days back, the platform urged its users to following Trump by sending them an email. 'If you aren't following President Donald J. Trump on Truth Social, you're missing an essential resource for navigating world affairs today,' the e-mail read.
Time of India
22-06-2025
- Business
- Time of India
Truth Social crashes minutes after US Strikes Iran: Here's Donald Trump's 'Live-post' that likely caused the outage
Source: X Truth Social malfunctioned reportedly went down minutes after President Donald Trump's announcement that the United States had bombed Iran's nuclear facilities. As per screenshots shared on social media platforms, starting around 8 pm ET on Saturday (June 21), attempts to load the social network displayed error messages saying: 'Network failed,' 'Please try again.' For those unaware, Truth Social is owned by Trump Media & Technology Group (TMTG). DownDetector, a website that crowdsources service outages, saw an influx of reports of Truth Social going down around 8 pm. The reason for the apparent outage was not immediately clear. NetBlocks , which monitors internet accessibility, posted on BlueSky just before 9 pm ET: 'Truth Social is experiencing international outages for many users after US President Donald Trump announces strikes on three nuclear sites in Iran; incident not related to country-level internet disruptions or filtering.' Likely cause of Truth Social outage Reports suggest that Truth Social started facing issues soon after Trump posted first update on the Iran attack. Trump posted around 7.46 pm ET that the United States had entered Israel's war against Iran stating that the US had waged a 'very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan.' Some screenshots suggest API congestion as the cause of the disruption. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What She Did Mid-Air Left Passengers Speechless medalmerit Learn More Undo All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow,' Trump continued. 'All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.' Trump frequently shares posts to Truth Social about issues of national and international importance. The president appeared to post multiple times after news of the US bombings against Iran were first announced. A significant portion of Trump's net worth is reportedly derived from his stake in TMTG, Truth Social's parent company. According to a report in Wired, earlier this week, Truth Social reportedly sent an email to at least some users encouraging them to follow Trump's account. The email read in part, 'If you aren't following President Donald J. Trump on Truth Social, you're missing an essential resource for navigating world affairs today.' AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Post
13-06-2025
- Business
- Business Post
Breaking: US tycoon pours €86 million into Trump crypto project after probe cancelled
An American financier i nvested €86 million ($100 million) in the Trump family's flagship bitcoin project just two months after a probe into his crypto business was dropped by the Trump administration. Chicago-based DRW Investments, the trading firm founded and controlled by Don Wilson, acquired nearly four million shares in Trump Media & Technology Group last month, according to public filings cited by the Financial Times. The purchase formed part of a funding round linked to a planned acquisition of more than $2 billion worth of cryptocurrency. The investment in TMTG, which is behind the Truth Social app and controlled by the US president's family, makes DRW among the biggest financiers of the group's crypto bet. DRW said: 'We are a major institutional player in cryptoassets and have been for over a decade. We engage in a variety of strategies in the crypto ecosystem, and we see the benefit of holding bitcoin on corporate balance sheets. This transaction was viewed purely through that lens.' TMTG did not respond to an FT request for comment, the report states Over the past four decades Wilson has built DRW into one of the world's largest trading firms by headcount. Its rival Jane Street was the largest investor funding TMTG's crypto bet, buying about $375mn in the equity fundraising, according to a regulatory filing.
