Trump Media Announces FinTech Venture Truth.Fi
Trump Media and Technology Group (TMTG), the parent company of Truth Social, announced on Wednesday that its board had approved the launch of Truth.Fi, a new financial services and FinTech platform.
Trump Media Expands into FinTech with Truth.Fi
A January 29 press release revealed that the company had allocated $250 million, to be held by Charles Schwab, for funding traditional investment vehicles, separately managed accounts (SMAs), exchange-traded funds (ETFs), and crypto securities.
Trump Media's expanding into FinTech with a platform called https://t.co/PIPjiI5wOA
It plans to invest in crypto, ETFs, and more—with a launch date later this year$DJT was up +11% at the opening bell pic.twitter.com/9XipnocNDO
— Morning Brew ☕️ (@MorningBrew) January 29, 2025
Truth.Fi is expected to launch later this year, with investments targeting American growth, manufacturing, and energy companies. The rollout remains contingent on finalizing agreements, securing necessary regulatory approvals, and confirming funding levels.
“We look forward to launching Truth.Fi, introducing TMTG’s investment vehicles, and unlocking synergies,” said TMTG CEO and Chairman Devin Nunes. “Truth.Fi is a natural expansion of the Truth Social movement.
“We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance,” he added.
As of Wednesday morning, the organization’s stock was up by over seven percent.
Trump’s Foray Into The Digital Asset Sector
Truth.Fi marks the third major venture for TMTG, following the launch of its social media platform Truth Social in February 2022 and its streaming platform Truth+ late last year.
Trump Media has faced legal scrutiny, including allegations 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 managed by his son, Donald Trump Jr., to mitigate potential conflicts of interest.
Trump and his wife, Melania, faced criticism before his January 20 inauguration for launching their own memecoins, which later declined in value after his return to the Oval Office.
😨 Given Trump is renowned for having a pretty thin skin, it's very possible he could sour on crypto altogether if $TRUMP becomes worthless #Opinion #Cryptohttps://t.co/2g0DVXcOIT
— Cryptonews.com (@cryptonews) January 22, 2025
Last year, Trump played a role in launching his family’s crypto platform, World Liberty Financial, while promoting digital asset-friendly policies on the campaign trail.
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 digital asset regulatory approach over the next four years have yet to be outlined.
Source: cryptonews.com
