Trump Media Launches Truth.Fi, Aims To Disrupt Financial Services Landscape
- This topic has 0 replies, 1 voice, and was last updated 3 weeks ago by
.
-
Topic
-
Trump Media and Technology Group (TMTG) experienced a significant stock price increase following its announcement of Truth.Fi, a new financial services division.
This venture aims to offer a range of investment products, including cryptocurrencies, exchange-traded funds (ETFs), and investments focused on the “Patriot Economy”.
The company’s shares jumped by over 9% during morning trading after revealing plans to invest up to $250 million in various financial instruments, including Bitcoin and other cryptocurrencies.
This initial investment will be managed by Charles Schwab, a prominent brokerage firm.
Truth.Fi’s launch comes in the context of ongoing Republican concerns about alleged financial censorship.
Previously, Republicans filed a complaint with the Federal Election Commission, claiming that Google’s email platform unfairly filtered GOP fundraising emails into spam folders.
President Donald Trump, who holds an indirect stake of 114,750,000 shares in TMTG through a revocable trust, stands to benefit significantly from this expansion.
The value of his stake grew by more than $257 million following the announcement.
TMTG’s move into financial services positions it as a potential competitor to other expanding financial platforms, including those associated with Elon Musk.
Recently, X announced a partnership with Visa to launch X Money, a payment system set to debut later this year.
Truth.Fi is expected to launch its products and services in 2025, pending necessary funding and regulatory approvals.
The company frames this expansion as part of its mission to create an ecosystem that protects “American patriots” from perceived threats of cancellation, censorship, and privacy violations by “Big Tech and woke corporations”.
