Trump Media & Technology Group (TMTG) is entering the financial services sector, including cryptocurrency investments, with the launch of Truth.Fi. The company is considering investing up to $250 million into various financial instruments, such as Bitcoin and other cryptocurrencies.
In a press release dated January 29, 2025, TMTG stated, “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.”
TMTG aims to allocate funds to various investment vehicles, including customized separately managed accounts (SMAs) and exchange-traded funds (ETFs).
> 🚨BREAKING: @TMTGcorp launches Truth.Fi, expanding into financial services and FinTech. Plans to invest up to $250M, focusing on SMAs, ETFs & crypto. Link to Tweet
The announcement led to a 15% surge in TMTG’s shares during pre-market trading. TMTG, known for its Truth Social platform, is set to offer various investment products and services through Truth.Fi as part of its expansion plan.
Nunes stated, “Truth.Fi is a natural extension of the Truth Social movement. We began by creating a free-speech social media platform, added a super-fast TV streaming service, and now we’re advancing into investment products and decentralized finance.”
By venturing into the cryptocurrency arena, TMTG raises important ethical and regulatory questions that accompany such substantial financial decisions in a rapidly evolving market.
