The Biden administration's Securities and Exchange Commission recently acknowledged that: wired That's what it is Investigating free speech video platforms Rumble.
According to a report on Monday, Wired filed a public records request in November seeking documents related to Rumble, but it was denied by the SEC, citing an ongoing investigation.
The agency did not provide any information about the nature of the investigation, but said its existence does not indicate Rumble committed any illegal activity.
Melinda Hardy, the SEC's Assistant Attorney General for Litigation and Administrative Practice, told Wired that she has “confirmed with enforcement staff that the investigation seeking records remains active and ongoing.”
Handing over the requested documents to the press “could potentially allow, among other things, individuals or entities with an interest in the underlying investigation to fabricate evidence, influence and/or destroy witness testimony.” “or falsify certain documents that could reasonably be expected to harm ongoing active enforcement proceedings.'' Hardy explained.
In a statement to Wired, Rumble spokesperson Rory Rumore said the SEC requested the documents from the company and voluntarily provided them.
“We caution against jumping to incorrect conclusions regarding issues related to Rumble,” the company said in a statement.
In the post of XRumble CEO Chris Pavlovsky claimed the SEC opened the investigation after receiving false reports from “short sellers.”
“Playbook to destroy $RUM” [Rumble]” Pavlovsky wrote. “Short sellers create false reports and send them to the SEC. The SEC investigates the false reports. Short sellers then talk to the media and explain how the SEC will process the reports they initiated. We'll hear about what they're investigating. The media will be happy to write about it.”
“This report is bullshit, but that doesn't matter. It's all about getting investors to sell stocks and short sellers to make money,” he continued. “The good news is, it doesn't work. We saw the attack coming and were prepared for it. Before going public, we decided to use Google Analytics to track and report on the attack. Did. [monthly active users], so we were prepared for this moment. ”
Pavlovsky added: “This is just the beginning. They'll come after us in 2024. They won't survive the Rumble mission, but we'll soon see how much we fight back.” You will learn,” he added. Pavlovsky said he is considering the company's legal options.
According to Wired, investment research firm Calper Research has released a report that questions the number of monthly active users reported by Rumble.
“Combined web and app data shows Rumble only has 38 million to 48 million unique users, suggesting the company is overstating its user base by 66% to 108%,” Calper Research reports. The book claims.
The company noted that it has a short position in the company and stands to profit if the stock price falls.
Rumore denies claims that Rumble inflates its monthly active user numbers, warning investors that they are “particularly suspicious of rumors spread by short sellers who seek to distort the facts for their own financial gain.” “There is,” he warned.
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