DJT, the company behind Truth Social, is expanding into financial services with the launch of Truth.Fi, a fintech arm that aims to develop investment
Trump Media & Technology Group (NYSE:TMTG) DJT, the parent company of Truth Social, is expanding into financial services with the launch of Truth.Fi, a fintech arm that will develop investment vehicles with crypto ambitions.
The company's board has approved a financial strategy that includes allocating up to $250 million of its $700 million cash reserves into various financial instruments. This includes customized exchange-traded funds (ETFs), separately managed accounts (SMAs), and Bitcoin (BTC) investments.
TMTG, led by CEO Devin Nunes, is positioning Truth.Fi as a financial extension of its media ecosystem, which already includes Truth Social and the streaming platform Truth+. The company aims to develop American-first investment products focused on growth sectors, manufacturing, and energy industries, as well as crypto and blockchain-related assets.
This move aligns with broader trends in the Trump-affiliated financial landscape. World Liberty Financial (WLFI), a cryptocurrency initiative associated with President Trump, has recently amassed over $388 million in digital assets, primarily in Ethereum and Tron, according to blockchain analytics platform Arkham.
This substantial investment coincides with Trump’s executive order to explore establishing a strategic national Bitcoin and cryptocurrency reserve.
The cryptocurrency market has also seen movement potentially linked to Trump-affiliated entities. The Movement Network's native token, MOVE, experienced a significant price surge following a multi-million dollar investment from World Liberty Financial and reports of discussions with Elon Musk's Department of Government Efficiency (DOGE).
President Trump's recent executive order on digital assets further underscores the administration's focus on cryptocurrency. The order establishes a Presidential Working Group on Digital Asset Markets and directs the evaluation of a “strategic national digital assets stockpile,” while prohibiting agencies from pursuing central bank digital currencies (CBDCs).
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
