Former President Donald Trump is plotting a return to Wall Street with his new media company taking aim at Big Tech, CNN reports.
But Trump Media & Technology Group’s path to the stock market faces a formidable obstacle: President Joe Biden’s regulators.
Biden’s top cop on Wall Street, SEC Chairman Gary Gensler, is openly skeptical of SPACs. And Trump’s SPAC deal features a host of red flags, including the backing of a Chinese firm with a checkered regulatory history, that have captured the attention of federal authorities.
Legal experts tell CNN that securities regulators are likely to heavily scrutinize Trump’s SPAC, slowing down or even derailing the deal altogether. Read more.
