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Al Mayadeen's correspondent: four martyrs, 70 injured by IOF fire near aid center west of Rafah, southern Gaza.
The Mujahideen Movement: The two were killed along with dozens of others from their family in a cowardly Zionist assassination that targeted the Sabra neighborhood today
The Palestinian Mujahideen Movement mourns the martyrdom of its Secretary-General, Asaad Attiya Abu Sharia "Abu Al-Sheikh", along with his brother Ahmad
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework

Trump's Truth Social app in a financial pickle

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Aug 2022 10:05
3 Min Read

With just a modest start of six months, the platform Truth Social already owes $1.6 million.

  • x
  • Former president Donald Trump (Getty)
    Former President Donald Trump

Fox Business Network reported Thursday that Trump's social media platform, Truth Social, has halted payments to the company that hosts it, RightForge, and owes it $1.6 million.

A RightForge spokesman would not comment on the reports that Truth Social is not paying its bills.

"RightForge was on the ground floor of building Truth Social and will continue to support President Trump in his endeavors," the company stated.

Meanwhile, the parent company's merger with Digital World Acquisition Corp (DWAC) - a blank check company formed specifically to carry out a merger - has yet to take place, 10 months after the announcement that it would happen. This fusion is supposed to bring in fresh funding for the Trump platform.

DWAC published Thursday a call for a special shareholder meeting on September 6 at which investors will be asked to approve a 1-year delay for carrying out the merger - until Sept 8 of 2023.

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However, without a favorable vote for an extension, the blank check company said it will be forced to dissolve.

Financial data published Thursday showed that as of late June, DWAC had only $3,000 in cash on hand. Truth Social bills itself as Trump's answer to platforms like Twitter, which the former President used as a political megaphone until he was ejected from it after a mob he had egged on assaulted the US Capitol in January 2021.

6 months later, in an Apple ranking of social media apps downloaded onto iPhones, it came in 30th place. The Statista database claims that Truth Social is downloaded only around 50,000 times per week, leading to a 550% increase in downloads since the Mar-a-Lago raids. 

Trump's account on Truth Social currently holds 3.91 million followers, whereas on Twitter he had 79.5 million when he was booted "due to the risk of further incitement of violence."

In December, TMTG raised $1 billion from private investors and was to receive $293 million in cash through a merger with DWAC, but the latter's activities have been under scrutiny from the US Financial Industry Regulatory Authority.

Shares in DWAC have fallen 71% since hitting their peak in early March, and the platform's parent company, Trump Media and Technology Group, has not responded to a request for comment.

  • TRUTH Social
  • Mar-a-Lago
  • Trump
  • Twitter

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