TMTG Unveils Truth.Fi to Expand into Financial Services

Trump Media & Technology Group (TMTG) announced on Wednesday the launch of Truth.Fi, a financial services division aimed at expanding its presence in investment and digital finance.

Trump Media & Technology Group (TMTG) is venturing into the realm of financial services with the launch of Truth.Fi. This new endeavor will see the company delve into the world of investment and digital finance.

As part of this initiative, TMTG plans to allocate up to $250 million in various investment avenues, including Bitcoin, exchange-traded funds (ETFs), and separately managed accounts (SMAs).

According to TMTG, the funds will be held with Charles Schwab, which will also provide advisory services for the investment strategy. An affiliate of renowned investment firm Yorkville Advisors will serve as the registered investment adviser.

The investment strategy will prioritize American growth, manufacturing, and energy companies, as well as those that support the “Patriot Economy,” a term coined by TMTG to describe businesses that align with conservative values.

This move by TMTG marks a significant expansion of its operations beyond the social media platform Truth Social. The company, founded by former U.S. President Donald Trump, has faced challenges in gaining traction in the competitive social media landscape.

With Truth.Fi, TMTG appears to be pivoting towards a broader strategy in the financial services industry, leveraging its brand recognition and conservative audience to cater to a largely untapped market segment.

Interestingly, blockchain data from a recent analysis also suggests that a decentralized finance (DeFi) project linked to Trump, called World Liberty Finance, recently acquired 1.2 million MOVE tokens for $940,000 in USDC.