In a significant move to expand its financial services, Trump Media and Technology Group (TMTG) has announced the launch of a new fintech brand called Truth.Fi. The company plans to invest up to $250 million from its cash reserves into cryptocurrencies, including Bitcoin, as well as exchange-traded funds (ETFs) and other financial products.
This initiative aims to cater specifically to “American patriots,” reflecting TMTG’s ongoing commitment to creating investment opportunities that align with its audience’s values. The announcement has already sparked a notable increase in the company’s stock, with shares rising by over 16% following the news.
Truth.Fi will focus on various investment vehicles, including separately managed accounts (SMAs) and customized ETFs. The firm has secured Charles Schwab as its custody provider, which will also assist in shaping the overall financial strategy for Truth.Fi.
Devin Nunes, CEO of TMTG, emphasized that this venture is a natural progression from their social media platform, Truth Social. He stated, “Developing America First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation and censorship.”
The decision to allocate substantial funds towards cryptocurrency investments marks a significant shift for TMTG and reflects Donald Trump’s increasing engagement with the digital asset space. The company had previously filed for a trademark for Truth.Fi last November and has been exploring potential acquisitions within the crypto sector.
As the cryptocurrency market reacts to these developments, analysts suggest that Trump’s involvement may influence regulatory attitudes towards digital assets in the United States.
