According to Golden Finance reports and Forbes disclosures, Trump's Media Technology Group (TMTG) revealed in its latest filing with the U.S. Securities and Exchange Commission (SEC) that the company has 'significant deficiencies' in its internal controls over financial reporting, raising investor concerns about the company's financial transparency and governance structure. TMTG is the parent company of the social platform Truth Social, which has recently attracted attention due to financial losses and audit issues. It is reported that the auditing firm BF Borgers hired by the company has been accused by the SEC of 'significant fraud' for falsifying audit documents and violating auditing standards. Additionally, Donald Trump Jr., who serves on the board of TMTG, received a compensation of $813,000 last year, although he only attended two out of five board meetings. Meanwhile, TMTG reported annual sales of only $3.6 million but a net loss of $401 million. Previously, Trump Media Technology Group, Crypto.com, and Yorkville America Digital finalized an ETF issuance agreement, with these funds expected to launch later this year.
