SEC Chair Gensler dodges Trump Media campaign finance questions

• SEC Chair Gary Gensler ducked questions on whether Trump Media is a funding organ for Donald Trump's presidential campaign.
• Trump is a majority shareholder of DJT, raising speculation on whether he will turn potentially billions of dollars worth of his stake into campaign fuel.
• Gensler also skirted questions of whether Trump Media's stock volatility is a signal that the company is trading on something other than its market value.

Securities and Exchange Commission Chair Gary Gensler on Tuesday refused to comment on speculation of whether Trump Media is a funding organ for Donald Trump's presidential campaign.

"I'm not going to speak on any one company," Gensler said in an interview on CNBC's "Squawk Box," responding to a question on whether Trump Media is merely a vehicle to finance the former president's bid for a second term.

"What's important is that their disclosures are accurate and that folks aren't in the market front-running or trading on insider information."

Since the DJT ticker went public on the Nasdaq on March 26, the stock has whipsawed, seeing a high of nearly $80 per share and a low of roughly $12 per share. The stock opened Tuesday at roughly $49.

As the majority shareholder, Trump stands to gain the largest financial boost from DJT upswings.

On Friday, Trump's stake added 36 million more shares to his existing 78.8 million, due to a clause in the company's contract that unlocks bonus shares as the stock hits certain checkpoints. Given that bump, Trump's stake had a paper value of over $5 billion at Tuesday's market open.

Trump is still prohibited from cashing in because of a standard lock-up provision in the contract that requires him to wait six months before selling or trading any shares.

But after