Truth Social CEO Devin Nunes lashed out at the Securities and Exchange Commission (SEC) because his company does not have access to public funding while facing investigations over a proposed merger.
Fox News host Maria Bartiromo began her Wednesday interview with Nunes, a former Republican lawmaker, by repeating reports that former President Donald Trump was ending an exclusive deal with his Truth Social platform ahead of a return to Twitter.
But Nunes called that "fake news" and instead focused on the company's funding problems.
"Remember, President Trump didn't need a new company; I didn't need a new job!" he complained. "We were told you've got to go out; you guys are Republicans, you're conservatives. Why don't you guys just go out and create your own company? What does it matter? These are private companies."
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"If Twitter and Instagram and Facebook, if they don't want Donald Trump or any other American, screw you!" Nunes continued. "We can just kick you off, and you can create your own company. Well, that's what President Trump did!"
According to Nunes, there was a "scandal" because regulators had not approved Truth Social's merger with Digital World. The New York Times reported that the two companies may have held improper talks before initiating the merger.
"We're trying to merge, which is a financing mechanism," he explained. "The Securities and Exchange Commission, their job is to protect shareholders. Their job is to help in capital formation."
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The Truth Social CEO accused the SEC of trying to undermine his company because it is owned by Trump.
"Just because it's Trump, President Trump is involved, here we are sitting here with no capital from the public markets!" an exasperated Nunes said.