Former U.S. president Trump launches 'TRUTH' social media, announces SPAC deal

• Former President Trump is launching his own social media platform named TRUTH to stand up against Facebook and Twitter

• The app will be the first product of the Trump Media and Technology Group (TMTG), which will list on the Nasdaq through a SPAC merger

• The transaction values TMTG at up to $1.7 billion

Former President Donald Trump on Wednesday announced to launch his own media network, including a social media platform called “TRUTH Social,” to “stand up to the tyranny of Big Tech” companies like Facebook and Twitter.