Former President Donald Trump recently shared a story in which he claimed he decided not to list the Trump Media & Technology Group on the New York Stock Exchange due to issues with business people being treated poorly in New York. However, his decision to list the company on the Nasdaq instead of the NYSE doesn’t make sense since both exchanges are located in the same New York City borough of Manhattan and are subject to the same laws and regulations.
Yale Law School professor, Jonathan Macey, found Trump’s story to be nonsensical and compared it to avoiding persecution in New York by shopping at a different store in the same city. Despite Trump’s claims, the same investor protection rules apply to companies listed on the Nasdaq as they do on the NYSE. Trump’s criticisms of New York laws and officials surrounding the listing decision seem unfounded and misguided.
Trump’s story came during a press conference where he criticized New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg for bringing legal cases against him. He claimed that officials at the stock exchange were upset with his decision not to list the company on the NYSE, but the NYSE spokesperson contradicted this and expressed a welcome to the company for listing on the exchange, the company owns social media platform Truth Social.
In addition to the baseless claims about the NYSE listing, Trump also made baseless claims about Joe Biden’s involvement in legal cases against him. Trump suggested that these cases are “Biden-run” and falsely claimed that Biden may have influenced the prosecution effort against him. However, there is no evidence to support these claims, as the cases are being led by elected officials in New York and Georgia, not federal entities under Biden’s control.
The civil fraud trial against Trump was initiated by Letitia James in 2022, before Biden launched his 2024 campaign. The criminal charges have also been led by local elected district attorneys, not the federal government. The federal indictments against Trump were brought by a special counsel appointed by Biden’s Attorney General, but this does not imply Biden’s direct involvement in the prosecution efforts, as mentioned by Garland.
Furthermore, Trump’s claims regarding Matthew Colangelo, who previously worked in the Justice Department and now works for Manhattan District Attorney Alvin Bragg, lack evidence. Colangelo and Bragg have a history of working together in the New York attorney general’s office and do not have any proven connections to Biden’s influence on legal cases against Trump. Despite Trump’s attempts to link these individuals to Biden’s administration, there is no factual basis for these claims.
Overall, Trump’s recent claims regarding the NYSE listing decision, legal cases against him, and connections to Biden’s administration are unsupported by evidence. These claims appear to be an attempt to discredit the legal proceedings against him and shift blame onto Biden for his legal troubles. The facts contradict Trump’s assertions, and it’s important to separate the truth from baseless allegations in evaluating his statements.
