Byron Donalds: SEC’s Rumble Investigation Could Influence 2024 Election
Rep. Byron Donalds (R-FL) expressed the growing concern surrounding the Securities and Exchange Commission’s (SEC) investigation into video sharing platform Rumble. His worry is that the probe could affect this year’s presidential election.
Breitbart News reported the Republican wrote a letter to SEC Chairman Gary Gensler concerning the federal financial regulator’s action. Rumble is an alternative to YouTube that has grown in popularity with conservative Americans.
The investigation was initiated when activist investor group Culper Research claimed last April that the platform overstated its monthly active user (MAU) account.
This could affect the investment group since it held a short position with Rumble. Culper would profit if its stock tanked, and the investigation could easily work in its favor.
The investigation was confirmed by WIRED, which filed a public records request in November concerning the action. The SEC initially declined the request due to its “active and ongoing” investigation.
Now, however, it merely asserted the probe should not be taken as evidence that “any violations of law have occurred with respect to any person, entity or security.”
Rumble is not taking the action lying down.
CEO Chris Pavlovski strongly rejected the allegation of inflated user figures by Culper Research. In turn, he accused the SEC of working in conjunction with the investor group to damage the platform.
As for Donald’s letter, he noted the investigation’s timing lended itself to charges of “political interference.”
The Trump ally wrote, “It is no secret that Rumble has risen to prominence by serving as the preeminent free speech alternative to Big Tech media platforms.”
He added that the service had exclusive streaming rights to the Republican presidential primary debates. It became a gathering site for those who were censored by Big Tech — many times at the behest of the Biden administration.
With the primary season going full force, to launch an investigation “suggests an effort to either implicitly or explicitly influence Rumble’s role in the 2024 election under the threat of constant litigation.”
Of course, it would not be beneath the Biden White House to initiate such a move. As Donalds well knows, it is to be expected.
