Former President Donald Trump's road back to the White House in November was never going to be easy, but even the relief of his social media company Truth Social now going public could be of little help to him.
As we all know, New York Attorney General Letitia James and Judge Arthur Engoron slapped Trump with a half-billion-dollar fine for the crime of doing business in the state even though his attorneys proved that he did not defraud anybody during his civil trial.
That's on top of the mountain of legal bills he has to pay to his lawyers not only in this case but also in the Georgia RICO case that a judge allowed to continue despite the obvious unethical behavior from District Attorney Fani Willis and her lover Nathan Wade.
Related: Judge Rules Fani Willis Can Continue Trump Prosecution — But There's a Catch
So maybe Truth Social, the social media company Trump developed in retaliation for Twitter kicking him off after Jan. 6, 2021, going public will give him a monetary transfusion, right? Well, not quite.
Even though Trump could potentially earn billions through this trade deal, Politico noted that banking regulations specify that he will need to wait six months to a year before he sees any money from his ownership stake, and he can only obtain a waiver to get the money faster by selling small amounts of the stake per quarter.
Plus, the value of Truth Social is much like fiat currency: Trump's affiliation with it is a major driver of how valuable it is.
"It’s simply trading on Trump’s name. People aren’t buying this because they like the fundamentals — they’re buying this because they like Trump," Politico quoted SPACInsider's Kristi Marvin.
I am aware that Trump and Co. were already in talks to take Truth Social public not long after he founded it, but the fact that it took this long right after the court slapped him with a massive and blatantly unjust fine for doing nothing makes the end result look disappointing since he won't be able to take advantage of it.
One cannot help but shake off the feeling that this was all happening by design. Obviously the lawfare to keep Trump out of the White House is, and we see proof of that every day. But the deal to make Truth Social go public after the fine from New York with only seven months to November almost feels like mockery from some malevolent entity.
Not even Trump's zealous and unshakable base has been able to help as much as it wants to. Elena Cardone started a GoFundMe to help pay Trump's legal fees and the massive fine, but it slowed down after a month at $1.3 million and hasn't picked up since.
Related: GoFundMe for Trump Picking Up Steam
America cannot take four more years of Joe Biden's handlers running the show, but this is one of those moments where you cannot be certain that Trump will win in November.
The efforts to keep him off state ballots failed, and people are increasingly aware of how blatantly political these legal cases against him are and are leaving the Democrats and Biden by the day, but this does not always translate into support. And we still have to contend with voter fraud in November.
