"SEC Approval Paves Way for Trump's $10 Billion Social Media Deal"

The Securities and Exchange Commission (SEC) has approved the merger between Donald Trump's social media company, Truth Social, and a special purpose acquisition company, allowing it to become a publicly traded company. Trump will hold a 58.1% stake in the new company, valued at about $4 billion. Despite having fewer than 1 million active users, Truth Social's stock surged 30% on the news but fell 15% throughout the day. The platform's big selling point is Trump's exclusive posts, and its CEO, Devin Nunes, aims to position it as a champion of free speech outside of Big Tech's control.