Trump Media & Technology Group (TMTG), Donald Trump’s media and technology company, has announced expansion plans. The company is launching Truth.Fi, a financial technology and investment brand.
Trump Media & Technology Group (TMTG), Donald Trump’s media and technology company, has announced expansion plans. The company is launching Truth.Fi, a financial technology and investment brand.
As part of the new project, TMTG will allocate up to $250 million from its reserves for investments. The funding will be targeted at several areas, including managed accounts (SMAs), exchange-traded funds (ETFs) and securities linked to cryptocurrency, such as bitcoin, the Financial Times reports. As of December 31, 2024, TMTG’s cash and cash equivalents exceeded $700 million.
Charles Schwab Corporation, a financial services company that offers banking and investment services, will act as custodian of the allocated funds. In addition, Charles Schwab Corporation will participate in the formation of the SMA, the investment strategy for Truth.Fi, and will advise the project.
The American fund Yorkville Advisors will manage financial products and investment mechanisms through a subsidiary legal entity.
Priority in granting investments will be given to American projects in growth sectors, including manufacturing and energy, as well as to companies that meet the principles of the «patriotic economy.»
TMTG CEO Devin Nunes called Truth.Fi «a natural extension of the Truth Social movement,» which is focused on «unlocking synergies.» «We started with a social media platform for free communication, added a superfast TV streaming service, and are now moving into investment products and decentralized finance. The development of American First investment tools is another step towards our goal of creating a trusted ecosystem where American patriots can protect themselves from the constant threat of repeal, censorship, debanking, and privacy violations perpetrated by big tech and woke corporations,» Nunes said.
The launch of Truth.Fi products and services is planned for 2025, but this is subject to regulatory approvals, closing of deals, and confirmation of funding allocations.
Trump Media shares immediately reacted positively to the news of the platform’s plans, rising 10% in New York trading on Wednesday.
