The operator of the social platform Truth Social, Trump Media & Technology Group (TMTG), plans to invest $250 million in exchange-traded funds, bitcoin, and other cryptocurrencies, as well as stocks of companies in the industry.
The board of directors approved a strategy to expand into financial services, which includes the establishment of the Truth.Fi division. Funds have been allocated from the company's cash reserves of over $700 million (as of December 31, 2024).