BlockBeats News, July 16th - According to CNN, last year, former U.S. President Donald Trump made a "very significant and exciting announcement" on the "Truth Social" platform. At that time, the computer chip manufacturing giant NVIDIA (NVDA.O) had just announced plans to build an artificial intelligence supercomputer in the United States. In a post to his more than 9 million followers on April 15, 2025, Trump promised that "all necessary permits will be expedited and rapidly delivered to NVIDIA and similar companies." However, what Trump did not disclose at the time was that he had just purchased between $200,000 and $500,000 worth of the company's stock.

An investigation by CNN found that Trump, after buying stock in over 20 companies, would promote these companies on his Truth Social account shortly thereafter—sometimes even announcing government actions that could benefit companies he had just invested in. The White House strongly denied that Trump had used his position for personal gain, stating that all his actions were aimed at benefiting the American public. The White House said that all of the president's stock trades were conducted by external financial managers, and Trump and his family had no control over specific trades. (FX168)