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Trump Media and Technology Group (TMTG), the parent company of Truth Social, announced on Wednesday that its board has approved the launch of Truth.Fi, a new financial services and FinTech platform.
Trump Media Expands into FinTech with Truth.Fi
A press release dated January 29 disclosed that the firm has allocated $250 million, to be managed by Charles Schwab, for investments in traditional investment vehicles, separately managed accounts (SMAs), exchange-traded funds (ETFs), and cryptocurrency securities.
Trump Media’s foray into FinTech with a platform called https://t.co/PIPjiI5wOA
It intends to invest in cryptocurrencies, ETFs, and more—with a launch anticipated later this year. $DJT increased by +11% at the opening bell pic.twitter.com/9XipnocNDO— Morning Brew
(@MorningBrew) January 29, 2025
Truth.Fi is expected to debut later this year, with investments aimed at American growth, manufacturing, and energy companies. The launch is dependent on finalizing agreements, obtaining necessary regulatory approvals, and confirming funding levels.
“We are excited about the launch of Truth.Fi, introducing TMTG’s investment vehicles, and unlocking synergies,” stated TMTG CEO and Chairman Devin Nunes. “Truth.Fi is a natural extension of the Truth Social movement.
“We started with a free-speech social media platform, added a high-speed TV streaming service, and now we’re branching into investment products and decentralized finance,” he added.
As of Wednesday morning, the company’s stock had risen by more than seven percent.
Trump’s Entry Into The Digital Asset Sector
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Truth.Fi represents TMTG’s third significant venture, following the launch of its social media platform Truth Social in February 2022 and its streaming service Truth+ late last year.
Trump Media has encountered legal scrutiny, including accusations of insider trading and reported investigations into potential financial misconduct.
In December 2024, Donald Trump transferred $4 billion in Trump Media and Technology Group shares to a trust overseen by his son, Donald Trump Jr., to avoid potential conflicts of interest.
Trump and his wife, Melania, faced backlash prior to his January 20 inauguration for introducing their own memecoins, which subsequently lost value after his return to the Oval Office.
Given Trump is known for having rather thin skin, it’s quite possible he might turn against crypto entirely if $TRUMP becomes worthless #Opinion #Cryptohttps://t.co/2g0DVXcOIT
— Cryptonews.com (@cryptonews) January 22, 2025
Given Trump is known for having rather thin skin, it’s quite possible he might turn against crypto entirely if $TRUMP becomes worthless #Opinion #Cryptohttps://t.co/2g0DVXcOITLast year, Trump was involved in launching his family’s cryptocurrency platform, Global Liberty Financial, while advocating for digital asset-friendly policies during his campaign.
Last week, President Trump signed an executive order to establish a crypto policy working group focused on enhancing U.S. leadership in digital financial technology.
However, the specifics of Trump’s regulatory approach to digital assets over the next four years have yet to be determined.
The post Trump Media Declares Launch of Fintech Platform Truth.Fi appeared first on Cryptonews.
