Trump's Unfounded Claims: Nasdaq Listing, Biden's Involvement and NYSE Officials

Former President Donald Trump recounted a story on Monday asserting that he declined to list the Trump Media & Technology Group on the New York Stock Exchange. He stated that the exchange strongly desired the company but cited mistreatment of businesspeople in New York and criticized the state's attorney general. However, his narrative is riddled with factual inaccuracies.

Nasdaq vs. NYSE

The stock exchange where the Trump Media & Technology Group is being listed, the Nasdaq, is also headquartered in New York. Both the Nasdaq and the New York Stock Exchange are located in the same New York City borough of Manhattan. Therefore, the same New York laws and political oversight would have applied to the company if it was listed on the NYSE, and they will apply now that it is listed on the Nasdaq.

Taken aback by Trump's account, Jonathan Macey, a Yale Law School professor, labeled the story as "mind-bogglingly nonsensical." He likened it to avoiding persecution in New York by choosing to shop at a store next door. He emphasized that the same investor protection rules apply to both stock exchanges.

Response from NYSE

Contrary to Trump's claim that NYSE officials were upset about his decision, a spokesperson declined to comment on the purported conversation but expressed the exchange's welcome to Trump's company. The spokesperson stressed the importance of New York being open for all types of capital formation and that having more companies listed on public exchanges benefits investors.

Trump's Unfounded Claims About Legal Cases

Trump also reiterated baseless claims about his legal cases, suggesting that they are "Biden-run things" and that a former Justice Department official had been "put into" the district attorney’s office by President Joe Biden.

No Basis for Trump's Claims

There is no evidence to support Trump's assertions. Firstly, there is no indication that Biden has been involved in initiating or overseeing any of the criminal or civil cases against Trump. The Manhattan prosecution is led by Manhattan District Attorney Alvin Bragg, while the civil fraud case is overseen by New York Attorney General Letitia James. Additionally, there is no evidence linking Biden to the decision of the former official to join the district attorney’s office.

The lawsuit that led to Trump’s civil fraud trial was filed by James in September 2022, preceding Trump's 2024 campaign. The investigations and prosecutions were conducted by elected local district attorneys and not influenced by Biden.

Colangelo's Transition

Trump's claims regarding Colangelo's move from the Justice Department to the Manhattan district attorney’s office lack substantiation. Colangelo and Bragg had a preexisting professional relationship from their time at the office of New York’s attorney general. Colangelo's roles within the Justice Department during the early months of the Biden administration refute Trump's assertions about Biden's involvement in Colangelo's career transition.