in october former president donald trump announced that he would stand up to the tyranny of big tech with a new media venture that would include a social media platform called truth social that new venture would purportedly compete with facebook and twitter each of which had banned the former president following his incitement of the january 6 capitol riot trump who had long relied on twitter as a broadcast tool to reach his followers remains banned from the respective services president donald trump was happy with his ability to communicate with the public using twitter until they shut him down said jeff kagan noted industry analyst for the wirelesstelecom industry that sent president trump on a journey to find new ways to reach out and share his thoughts with the public kagan explained via an email while this planned venture hasnt shed any light on whether trump would actually seek higher office once again it does suggest that at the very least he wants to be part of the process and have a platform to reach the masses by launching his own social media service he wouldnt need to fear that his measures would be blocked or even filtered he wants to be a player added kagan if he cannot use traditional social media like his twitter account then he will simply have to create his own what is interesting is if he is successful this may start a new social media avenue giving conservatives a way to share their thoughts about politics well just have to watch and see what happens next however there was a new twist on monday and it remains unclear as what exactly might happen next the special purpose acquisition company spac that plans to merge with former president trumps new social media company revealed that the securities and exchange commission sec along with another federal regulator had asked it for information regarding stock trading and communications with trumps firm that took place before any deal was announced the investigations by the sec and the financial industry regulatory authority finra were disclosed in an 8k filing with the sec by digital world acquisition corp the special purpose acquisition company on track to merge with trump media  technology group cnbccom reported on monday shares of digital world had skyrocketed by as much as 1657 percent in the days after the deal was announced even as few details have been made public as a result the deal has drawn its share of scrutiny – and democratic senator elizabeth warren of massachusetts was among those who had called for the sec to investigate whether any laws were broken at the time however digital world repeatedly told shareholders that it had not held substantive talks with a target company – as spacs are not supposed to have merger targets planned before they raise money from the public on monday warren senwarren tweeted nobody is above the law—and there may have been serious violations of securities laws during the propose merger of digital world acquisition corp  trumps media company im glad secgov and finra are investigating it remains improper for spacs to discuss potential mergers before they go public but it appears that the former president was talking about the deal with digital world weeks ahead of that additionally the company hasnt revealed the namesaffiliations of its investors which some consider unusual the sec and the finra are investigating potential irregularities in the merger between the spac digital world acquisition corp dwac and trump media  technology group explained technology analyst charles king of pundit those issues include whether discussions occurred between the organizations that were not disclosed in sec filings and trading activity that may have happened before the public announcement of the merger agreement for its part dwac has said it has been cooperating with the information requests and noted in its sec filing that the investigation does not mean that the sec has concluded that anyone violated the law or that the sec has a negative opinion of dwac or any person event or security the spac made a similar note about finras request that its inquiry should not be construed as an indication that finra has determined that any violations of nasdaq rules or federal securities laws have occurred this was probably not the type of announcement that trump or the company wanted to see trending on social media