Source : coinspeaker.com
In the initial hours of launch, Truth Social witnessed a massive demand. Truth Social marks the return of Donald Trump to social media to stand up “to the tyranny of Big Tech”.
Last Sunday, February 20, former US President Donald Trump unveiled his own new social media venture Truth Social. Just within 24 hours of launch, Truth Social became the most downloaded app on Apple App Store.
The interesting thing was that despite having some glitches, it managed to top the charts. After downloading the app, some people reported error messages upon entering a birthday, e-mail, or phone number while creating their account. “Something went wrong. Please try again,” read the message.
Some people who had pre-ordered Truth Social saw the app automatically downloaded to their iPhones. Others said that they were put on a waitlist after signing up. “Due to massive demand, we have placed you on our waitlist,” said the message.
Following the attack on the US Capitol Hill last year in January 2021, Donald Trump was banned on top social media platforms like Twitter, Facebook, and Alphabet. Thus, the release of Truth Social underscores Donald Trump’s plan to return to social media.
Last October 2021, the Trump Media and Technology Group first announced that it was launching the Truth Social app to stand up “to the tyranny of Big Tech”. The initiative has been led by CEO Devin Nunes, a former Republican US Representative.
With this Truth Social positions itself as a competitor to existing players championing themselves as platforms of free speech. Truth Social, which is similar to Twitter, is also similar to other alternative social media apps like Parler, Getter, and Rumble. During an appearance on Fox News’ “Sunday Morning Futures with Maria Bartiromo,” Nunes said:
“This week we will begin to roll out on the Apple App Store. That’s going to be awesome, because we’re going to get so many more people that are going to be on the platform”.
Donald Trump’s Truth App Getting Major Support
Last Friday, Nunes himself was on the app urging users to follow more accounts on Truth Social. He also encouraged sharing photos, videos, and engaging with more people to push up the platform activity.
A person familiar with the matter said that one of Nunes’s posts was about welcoming a new user who appeared to be a Catholic priest. Nunes also encouraged him to ask more priests to join. It remains unclear for now as to how the Trump Media & Technology Group (TMTG) is funding its platform.
TMTG is reportedly planning to list in New York via a merger with blank-check firm Digital World Acquisition Corp. Last year in October, TMTG said that it has also received $293 million in cash that DWAC holds in a trust.
By December last year, TMTG raised an additional $1 billion from private investors. However, this money won’t be available until the DWAC deal closes.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.