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Trump social media firm says it has raised $1bn

Donald Trump's new social media firm says it has entered into agreements to raise $1bn (£755m) from investors ahead of a planned stock market listing.

The Trump Media & Technology Group is working to launch a social media app called Truth Social early next year.

It comes as Mr Trump remains banned from Twitter and Facebook following the attack on the US Capitol in January.

"$1bn sends an important message to Big Tech that censorship and political discrimination must end," he said.

"As our balance sheet expands, Trump Media & Technology Group will be in a stronger position to fight back against the tyranny of Big Tech."

Mr Trump announced plans to launch Truth Social earlier this year, saying it would allow conversation "without discrimination on the basis of political ideology".

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