Rep. Nunez will step down from the U.S. Congress as CEO of Trump Media Corporation

The Paper's reporter Nan Boyi

On December 5, local time, Trump Media and Technology Group (TMTG) issued an announcement that the current Republican Rep. Devin Nunez will resign from the US Congress and will serve as the company's CEO from January next year. In response, Núñez, who has no previous experience working at a technology company or held a management position in the company, said he is "honored."

According to the US Consumer News and Business Channel (CNBC) reported on December 6, Trump Media and Technology Group announced on the 5th that Nunez will become its CEO. But just hours before the group announced the news, its IPO plans were blocked. Currently, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are investigating acquisition deals related to former President Trump. Digital World Acquisitions (DWAC), which was originally merged with Trump Media and Technology Group, disclosed in a filing that the SEC and the U.S. Financial Industry Regulatory Authority asked it a few weeks ago to provide information about stock deals between the two sides, and that "Digital World Acquisitions has received certain preliminary investigation requests from regulatory authorities and is working with them." Specifically, in late October and early November 2021, the Financial Industry Regulatory Authority asked us to provide some information about events prior to the public announcement of the merger agreement on October 20, 2021. ”

Trump announced in October that trump media and technology group would merge with digital world acquisition companies to form a new company that will begin operations in the first quarter of 2022, with Trump as chairman. Meanwhile, the new company will soon launch its own social media platform called TRUTH Social.

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