Trump Media & Technology Group (TMTG), the entity behind former President Donald Trump's social media platform Truth Social, has just announced its expansion into the financial sector with a new brand called Truth.Fi.
According to the official announcement, on #TruthFi it is possible to invest in Bitcoin and related digital assets as part of a diversification strategy. The company will manage cash worth 250 million USD through Charles Schwab – one of the major financial institutions in the US.
Although Charles Schwab offers services related to Bitcoin ETFs, futures $BTC and $ETH , this bank does not allow customers to trade cryptocurrencies directly. This has left many curious about how Truth.Fi will implement its investment strategy.
TMTG's CEO, Devin Nunes, emphasized that the company aims to create investment tools to help "Americans protect their assets from the risk of cancellation, censorship, and privacy violations by major tech corporations."
Former President Trump had previously stated that he would support the crypto industry and ease regulatory burdens, even suggesting that Bitcoin could be stored in the US strategic reserves. However, some Bitcoin supporters expressed disappointment that his first crypto decree not only mentioned Bitcoin but also referred to "digital assets" in general.
In addition to the goal of crypto investment, TMTG is also committed to protecting freedom of speech, creating a financial ecosystem that keeps users independent of major tech corporations.
With this move, Trump is not only expanding his influence in the fintech sector but also demonstrating the growing interest of politicians in the crypto market. #anhbacong