Slojab
3週前
Trump Media & Technology Group (NASDAQ:DJT) is shaking up leadership at a time when its business is under growing pressure and investors are feeling the impact.
Shares of the company have fallen around 67% (1) since their rise ahead of the November 2024 election, wiping out more than $6 billion in market value and raising new questions about the future of its core platform, Truth Social. Going back to the early 2022 performance of the shell company that brought Trump Media public, shares have plunged by around 90% (2).
Devin Nunes (3) is departing from his role as CEO after four years, with longtime digital media executive Kevin McGurn stepping in on an interim basis. The company did not give a reason for the change or say when a permanent replacement will be named.
"I want to thank Devin Nunes for his dedicated service to the Company over the past four years, and congratulate Kevin McGurn on his appointment as Interim CEO," Donald Trump Jr. said in a statement on behalf of the board (4), adding that McGurn's experience across media, technology and capital markets, along with his familiarity with the company, makes him well positioned to lead during a critical period.
In a post on Truth Social, Nunes, a former Republican congressman from California (5), said the transition comes at an "appropriate time," (6) noting the company's next phase would benefit from leadership with deeper experience in media and dealmaking. He reportedly received $47 million (7) in total compensation in 2024, the most recent year disclosed.
https://www.msn.com/en-us/money/companies/devin-nunes-is-out-as-trump-media-ceo-after-4-years-and-the-company-s-revenue-came-in-99-8-below-what-investors-were-promised/ar-AA23SP8J?ocid=hpmsn&cvid=6a11c494615748938cb1678e619168f2&ei=61
fuagf
2月前
Billionaire backer sues Trump family's crypto firm over alleged extortion
Related: Any questions?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=177484683
7 hours ago
Archie Mitchell
Business reporter
Justin Sun at a crypto conference in 2025 Getty Images
The Trump family's World Liberty Financial crypto venture is being sued by one of its billionaire backers over allegations of extortion.
Justin Sun has accused World Liberty of an "illegal scheme" to seize his WLFI tokens, a cryptocurrency issued by the company.
Sun alleges the firm, co-founded by US President Donald Trump and his son Eric Trump, has "frozen" all of his tokens and stripped him of his right to vote on governance issues.
World Liberty has denied wrongdoing and accused Sun of "playing the victim while making baseless allegations to cover up his own misconduct".
Sun is an ardent supporter of Trump and his stance on cryptocurrencies, but accused "certain individuals" associated with World Liberty of acting against the president's values.
"They wrongfully froze all of my tokens, stripped me of my right to vote on governance proposals, and have threatened to permanently destroy my tokens by 'burning' them - all without any proper justification," he said in a social media post announcing the lawsuit.
Sun is the founder of a separate multi-billion dollar crypto project, TRON. He initially invested $45m (£33m) in World Liberty .. https://www.bbc.com/news/articles/c4gzz5wdg41o .. and said that, at times, his WLFI tokens have been valued at more than $1bn.
Since September, the price of a single WLFI token has plunged from 31 cents to just under 8 cents.
Sun said his backing was driven by the Trump family's association with the project and his long-standing support for cryptocurrencies.
World Liberty's co-founders include Donald Trump and Eric Trump
[Insert: Crime famiiiiily much?]
But Sun alleged that those running World Liberty, including another co-founder, Chase Herro, are using it as a "golden opportunity to leverage the Trump brand to profit through fraud".
In his complaint, filed on Tuesday in a San Francisco federal court, Sun argued that initial promises to give token-holders the option to trade the currency in future "were false and misleading".
While the tokens at large became tradeable, Sun said World Liberty has blocked him from being able to sell a single one, and is now threatening to "burn" his - deleting them entirely.
Zach Witkoff, another co-founder of World Liberty and the son of President Trump's Middle East envoy Steve Witkoff, said Sun's lawsuit is a "desperate attempt to deflect attention from Sun's own misconduct".
"His claims are entirely meritless, and World Liberty looks forward to getting the case thrown out promptly," Witkoff said, and claimed that Sun has engaged in "misconduct that required World Liberty to take action to protect itself and its users".
Eric Trump added: "The only thing more ridiculous than this lawsuit is spending $6m on a banana duct-taped to a wall."
In 2024 Sun bought, then ate, an artwork by Maurizio Cattelan which consisted of a banana duct-taped to a wall ..
https://www.bbc.com/news/articles/cy87202v43no .
[LOL the art world too can be dirty, but unlike the
Trump family, the art world can also be very cool. ]
Investors have also grown concerned about World Liberty borrowing against the value of its tokens.
Meanwhile, the Securities and Exchange Commission has dropped its investigation into Sun, with Senator Elizabeth Warren, a Democrat, questioning if it was tied to his investments in Trump's crypto ventures .. http://banking.senate.gov/newsroom/minority/warren-statement-on-the-sec-dropping-its-case-against-justin-sun .
Sun had been accused of paying high-profile influencers to promote his companies on social media, without disclosing the payments.
[Ok not good, yet relatively much bad?]
Elsewhere, the Trump business behind his Truth Social platform replaced its chief executive Devin Nunes after a sharp fall in its share price.
Kevin McGurn, who has worked at Hulu, Vevo and T-Mobile, will temporarily take over from the former California congressman.
In the past year, shares in Trump Media & Technology have fallen in value by almost two thirds as it struggles to attract users beyond the US president, who frequently uses it to make announcements.
https://www.bbc.com/news/articles/c8x7kxjgq9xo
So there's been the Trump Foundation charity to fraud, and Trump University and now the above.
Bit more related:
AI Overview
Based on reports as of late April 2026, Donald Trump's second term has been characterized by deeply intertwined business, crypto, and geopolitical dealings involving the United Arab Emirates (UAE) and Binance founder Changpeng Zhao.
* Trump Stablecoin (World Liberty Financial): In March 2025, Trump’s venture, World Liberty Financial (WLF), launched a stablecoin (USD1) pegged to the US dollar. By early 2026, this venture was reported to be a significant source of Trump's fortune.
* Zhao Pardon and Binance Ties: In October 2025, President Trump pardoned Binance founder Changpeng Zhao, who had pleaded guilty to money laundering charges. Binance, which listed the WLF stablecoin in May 2025, was found to be holding 87% of the stablecoin's assets as of February 2026. Zhao had previously claimed his firm was targeted by the "war on crypto" from the previous administration.
* UAE Deals and Influence: A UAE sovereign wealth fund (MGX) invested $2 billion in the WLF stablecoin to purchase a stake in Binance. Simultaneously, the UAE gained access to restricted US technology, including advanced AI chips.
* Middle East Situation: By April 2026, concerns were raised regarding the potential conflicts of interest stemming from these dealings. Reports indicated that while these deals were unfolding, the administration was managing heightened tensions in the Middle East, including threatened actions against Iranian infrastructure.
* Conflicts of Interest: As of April 2026, the Trump family's business dealings, including the UAE-backed crypto venture and foreign investments, have drawn scrutiny for potentially breaking legal and ethical taboos regarding a sitting president profiting from office.
Transparency - https://www.google.com/search?client=firefox-b-d&q=april+2026+trump+stablecoin+zhao+uae+war++
Pokerpro05
2月前
Devin Nunes
@DevinNunes
President Trump started Trump Media due to the suppression of free speech online by tech oligarchs. In response, we built a team and launched a global social media platform, Truth Social, developing our own infrastructure in order to make our services uncancellable and to restore free expression for millions of Americans.
After I joined Trump Media in 2022, we experienced one of the longest SPAC merger approval processes in history, went public in March 2024, and oversaw the Company’s expansion over the next two years. During that time, the Company grew from a social media start-up into a public company with a multi-billion dollar valuation, increasing its financial assets from approximately $200 million when the merger closed to around $2.5 billion at the end of 2025. Additionally, we achieved positive cash flow for the 2025 calendar year—less than two years after going public. This financial position enabled the Company to implement its mergers and acquisitions strategy.
I have spent the last decade fighting corruption and censorship in both the public and private spheres. In Congress, I battled corruption at the highest levels of government, including the Russia collusion hoax, the Ukraine impeachment hoax, and the politicization of our intelligence agencies. Now, having achieved Trump Media’s original mission of giving the American people their voices back, and with the Company’s future secured through our strong balance sheet, it’s an appropriate time for Kevin McGurn, a Trump Media advisor with deep experience in media, mergers, and acquisitions, to take over the Company’s leadership and steer Trump Media through its current transition phase. This will allow me to focus more intently on my role as Chairman of the President’s Intelligence Advisory Board and on other ventures, knowing the company is in safe hands under Kevin’s stewardship.
I’d like to thank President Trump, Trump Media’s millions of users and hundreds of thousands of retail shareholders, and the amazing patriots working on our Company’s team, all of whom were indispensable in creating and operating this unique Company. It’s been an incredible honor to serve Trump Media, and I remain fully committed to our common cause of free speech on the Internet, which is now and will always be fiercely protected by Truth Social.
Pokerpro05
Diogenes of Sinope
2月前
One of the most prominent investors in the Trump family's crypto company is now criticizing it
Sunday on X, Sun, a billionaire who is among the most recognizable figures in the crypto industry, accused the Trump group, World Liberty Financial, of setting up a system that grants company officials unilateral power over user accounts. That includes the ability to freeze them.
Sun alleges that his account has been subject to a freeze since September and that he has not been able to sell his holdings. According to analysis by the blockchain tracking group Bubblemaps, the value of the holdings Sun has allegedly been unable to move has declined by more than $80 million, to about $43 million. Sun has said he spent at least $75 million on World Liberty tokens, at one point becoming its largest investor.
https://www.nbcnews.com/business/business-news/trump-crypto-world-liberty-justin-sun-rcna331555
noshorthere
2月前
Sunday's Doonesbury:
I know he has a penchant for saying something stupid, and I remembered his covid nonsense. So I checked the rest, and verified the other quotes:
"The continental army manned the air. It rammed the ramparts. It took over the airports." 07/05/2019
"I see where disinfectant knocks out covid in a minute. Is there any way we could do that by injection?" 04/23/2020
"They say that windmills cause cancer." 04/02/2019
"The oceans may rise giving you more seafront property." 08/12/2024
"I graduated first in my class. Maybe not first, but I had the highest grades possible." 1988 interview with Time Mag.
"Belgium is a beautiful city" 06/15/2016
"aren't Nipple and Button part of India?" 07/08/2017 Huh? He meant Nepal and Bhuton.
And over 50% of the voters overlooked that, his felony convictions, his draft evasion (runs in his family going all the way back to his grandfather), his 6 bankruptcies, his near constant lies, and voted for him......Amazing. 😭
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