US President Donald Trump’s media company, Trump Media & Technology Group (TMTG), has unveiled ambitious plans to expand into financial services, including cryptocurrency investments.
Furthermore, TMTG revealed that it may invest up to $250 million into various financial instruments, including Bitcoin, other cryptocurrencies, and crypto-related securities.
In a press release dated 29 January 2025, the company said, “To diversify the Company’s cash and cash-equivalent reserves of over $700 million as of December 31, 2024, the board has approved the investment of up to $250 million to be custodied by Charles Schwab.”
“In addition to traditional investment vehicles, these funds may be allocated to: Customized separately managed accounts (SMAs); Customized exchange-traded funds (ETFs); Bitcoin and similar cryptocurrencies or crypto-related securities.”
BREAKING: @TMTGcorp launches Truth. Fi, expanding into financial services and FinTech
The company plans to invest up to $250M in investments with a focus on SMAs, ETFs & crypto pic.twitter.com/XupoiVTHMR
— CryptosRus (@CryptosR_Us) January 29, 2025
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TMTG Shares Surged By 15%
The announcement sent shares of TMTG soaring by 15% in pre-market trading.
TMTG, which owns the Truth Social platform—a social media network launched as a free-speech alternative to mainstream platforms—revealed its plans to launch Truth.Fi, a financial technology brand aimed at offering investment products and services.
Commenting on the development, TMTG CEO and Chairman Devin Nunes said, “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,” said Nunes. “Developing American 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, censorship, debanking, and privacy violations committed by Big Tech and woke corporations.”
The firm has plans for Truth.Fi, with multiple investment products set to launch throughout 2025.
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Another Controversial Move
This is not the first controversial or ethically questionable move Trump has pulled in the last few days. Few days ago, he launched TRUMP, a meme coin with no utility. As expected, it soared, commanding over $18 billion in value within days.
Less than 12 hours before the inauguration, incoming First Lady Melania Trump joined the meme coin bandwagon, launching her token, MELANIA.
The sequence of events over the past few days have been unprecedented. This marks the first time since Bitcoin’s inception that a president or president-elect of any country has released a token—let alone a meme coin—while in office or on the verge of taking over.
TRUMP and MELANIA meme coins have been market movers, sparking Solana, Ethereum, and Bitcoin rallies.
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The post Trump’s Media Company, TMTG, Announces Expansion Into Crypto With Truth.Fi Launch appeared first on 99Bitcoins.
