{"id":143563,"date":"2021-11-03T10:27:09","date_gmt":"2021-11-03T10:27:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143563"},"modified":"2021-11-03T10:27:09","modified_gmt":"2021-11-03T10:27:09","slug":"gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/","title":{"rendered":"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase"},"content":{"rendered":"<ul>\n<li>Republican Rep.\u00a0Larry Bucshon purchased a stake in Digital World Acquisition Corp., or DWAC, the SPAC linked to former President Trump, according to a public disclosure.<\/li>\n<li>The investment from the Indiana congressman is worth at least $1,001 but no more than $15,000.<\/li>\n<li>Bucshon&#x27;s investment is the disclosed second DWAC purchase from a member of Congress. CNBC reported last week that Rep. Marjorie Taylor Greene has invested up to $50,000 in the SPAC.<\/li>\n<li>In January, Bucshon said Trump had incited the deadly riot at the Capitol. Then he voted against impeaching Trump.<\/li>\n<\/ul>\n<p>Republican Rep.\u00a0Larry Bucshon has bought up to $15,000 in the SPAC that is slated to take public former President\u00a0Donald Trump&#x27;s\u00a0planned social media platform.<\/p>\n<p>The Indiana congressman purchased a stake in Digital World Acquisition Corp., or DWAC, on Oct. 25, according to a public disclosure released on Monday. The investment is worth at least $1,001 but no more than $15,000.<\/p>\n<p>Bucshon&#x27;s investment is the second disclosed DWAC purchase from a member of Congress. CNBC reported last week that Rep. Marjorie Taylor Greene has invested up to $50,000 in the SPAC. It also appears to be the first stock transaction disclosed by Bucshon since 2013, according to Quiver Quantitative, an alternative data firm that tracks Congressmen&#x27;s trading activities.<\/p>\n<p>Bucshon, who worked as a physician and surgeon, has served in Congress since 2011. He is a member of the House Energy and Commerce Committee. <\/p>\n<p>In January, after pro-Trump rioters attacked the Capitol, Bucshon said in a statement that Trump incited the insurrection. &quot;I cannot condone dangerous rhetoric by the president,&quot; he said. Soon thereafter, however, Bucshon voted against impeaching Trump on charges of inciting the Capitol invasion.<\/p>\n<p>DWAC is a special purpose acquisition company that would merge with Trump Media &amp; Technology Group, a new social media company Trump said he has planned to &quot;take on Big Tech censorship.&quot;<\/p>\n<p>A spokesperson at Bucshon&#x27;s office didn&#x27;t immediately respond to CNBC&#x27;s request for comment.<\/p>\n<p>The stock has surged more than fivefold in extremely heavy trading in the past week and a half since the target company was announced. There have been signs that retail investors active on social media platforms like WallStreetBets were fueling the astronomical rally.<\/p>\n<h3>Loading chart&#8230;<\/h3>\n<p>After a wild 800% two-day rally following the announcement, the SPAC pulled back nearly 70% from its all-time high of $175 to trade around $56.20 apiece.<\/p>\n<p>SPACs raise capital in an IPO and use the cash to merge with a private company and take it public, usually within two years. Early investors in these blank-check deals typically have no idea what the business combination would end up being.<\/p>\n<p>At least two hedge funds that were among early investors in DWAC\u00a0\u2014 Lighthouse Investment Partners and Saba Capital Management \u2014\u00a0dumped their sizable stakes last week\u00a0after learning of the SPAC&#x27;s merger target.<\/p>\n<p>Trump&#x27;s plans for a social media app come months after he was banned by Twitter and Facebook for inciting\u00a0the deadly Jan. 6 Capitol riot by his supporters.<\/p>\n<p>The former president said he&#x27;s rolling out a social media app called Truth Social. He said the new company also will launch an on-demand video streaming service &quot;that competes with the increasingly &#x27;woke&#x27; and politicized &#x27;entertainment&#x27; programming created by Big Tech and Big Media players,&quot; and sees &quot;opportunities to create &#x27;cancel-proof&#x27; alternatives in other key areas ranging from web services to payment processing.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/11\/02\/gop-rep-larry-bucshon-bought-stock-in-trump-spac.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republican Rep.\u00a0Larry Bucshon purchased a stake in<\/p>\n","protected":false},"author":3,"featured_media":143562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23055],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Republican Rep.\u00a0Larry Bucshon purchased a stake in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-03T10:27:09+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/GOP-Rep.-Larry-Bucshon-is-the-second-House-lawmaker-to-disclose-Trump-SPAC-stock-purchase.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/\",\"url\":\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/\",\"name\":\"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-11-03T10:27:09+00:00\",\"dateModified\":\"2021-11-03T10:27:09+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Politics\",\"item\":\"https:\/\/precoinnews.com\/category\/politics\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/","og_locale":"en_US","og_type":"article","og_title":"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News","og_description":"Republican Rep.\u00a0Larry Bucshon purchased a stake in","og_url":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/","og_site_name":"Pre Coin News","article_published_time":"2021-11-03T10:27:09+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/GOP-Rep.-Larry-Bucshon-is-the-second-House-lawmaker-to-disclose-Trump-SPAC-stock-purchase.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/","url":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/","name":"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-11-03T10:27:09+00:00","dateModified":"2021-11-03T10:27:09+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/politics\/gop-rep-larry-bucshon-is-the-second-house-lawmaker-to-disclose-trump-spac-stock-purchase\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Politics","item":"https:\/\/precoinnews.com\/category\/politics\/"},{"@type":"ListItem","position":3,"name":"GOP Rep. Larry Bucshon is the second House lawmaker to disclose Trump SPAC stock purchase"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/143563"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=143563"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/143563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/143562"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=143563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=143563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=143563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}