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).
Partners in the initiative and investment consultants will be Charles Schwab and Yorkville Advisors.
Truth.Fi products and services are planned to be launched by the end of 2025 "as new agreements are finalized, funding levels are determined, and regulatory approvals are obtained."
«Truth.Fi — a natural extension of Truth Social. We started by creating a social media platform for free speech, added the super-fast streaming service [Truth+], and are now moving to investment products and decentralized finance,» said CEO and Chairman of TMTG Devin Nunes.
Meanwhile, Donald Trump has launched the sale of personalized watches. Several models of the Crypto President series are dedicated to the theme of digital assets.
Three days before the inauguration on January 20, the sitting president of the United States issued the 'official' meme-coin TRUMP.
In addition, the DeFi project World Liberty Financial, associated with Trump and his sons, is actively investing in digital assets. The platform has already been suspected of insider buying of MOVE tokens.
Let us remind you that Trump's coin has raised ethical questions among experts. The U.S. Congress has pointed out a potential conflict of interest regarding all of the president's crypto projects.