Trump takes another step into crypto. Trump Media and Technology Group has announced the launch of a new branch dedicated to financial services: Truth.Fi.

It is the result of a diversification strategy that looks with interest at the crypto industry. In fact, one of the key steps in the announcement concerns precisely a $250 million investment plan in Bitcoin and other cryptocurrencies.

Trump's latest move: launching Truth.Fi and investing $250 million in Bitcoin

Former US President Donald Trump is continuing his foray into the crypto world with the launch of a new financial services venture called Truth.Fi.

The initiative, announced by Trump Media and Technology Group (TMTG), the group behind the social platform Truth, will see the launch of a new platform dedicated to financial services.

According to the announcement, Truth.Fi will launch with a $250 million investment in Bitcoin and other cryptocurrencies, with banking giant Charles Schwab set to act as the custodian for the funds.

However, it remains to be seen how the company will execute this investment, given that Schwab currently does not offer direct buying or selling of cryptocurrencies, but rather products such as ETFs.

The announcement also included a statement from Devin Nunes, CEO of Trump Media, who said: “Our goal is to create a robust ecosystem through which U.S. patriots can protect themselves from the ever-present threat of censorship, debanking and privacy violations committed by big tech companies and woke corporations.”

The launch of Truth.Fi follows a series of initiatives that have brought the former president closer to the crypto world.

During his presidential campaign, Trump hinted at his intention to establish a new “national” strategic reserve in Bitcoin.

On his inauguration day at the White House, he launched his official memecoin, $TRUMP.

Now, with Truth.Fi, he appears to be aiming to challenge American big tech on the terrain of “free speech”, aligning himself, in some respects, with the entire crypto community.

Cryptocurrencies are seen by some as one of the channels through which to “break free” from the hegemony of big tech companies, albeit (according to Truth.Fi’s purpose) from a financial point of view.