#cryptonews
Trump Media and Technology Group (TMTG), the parent company of Truth Social, announced on Wednesday that its board had approved the launch of Truth.Fi, a new financial services and FinTech platform.
Truth.Fi is expected to launch later this year, with investments targeting American growth, manufacturing, and energy companies.
A January 29 press release revealed that the company had allocated $250 million, to be held by Charles Schwab, for funding traditional investment vehicles, separately managed accounts (SMAs), exchange-traded funds (ETFs), and crypto securities.
“We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance,” he added.
“We look forward to launching Truth.Fi, introducing TMTG’s investment vehicles, and unlocking synergies,” said TMTG CEO and Chairman Devin Nunes. “Truth.Fi is a natural expansion of the Truth Social movement.
In December 2024, Donald Trump transferred $4 billion in Trump Media and Technology Group shares to a trust managed by his son, Donald Trump Jr., to mitigate potential conflicts of interest.
Truth.Fi marks the third major venture for TMTG, following the launch of its social media platform Truth Social in February 2022 and its streaming platform Truth+ late last year.
Last week, President Trump signed an executive order to establish a crypto policy working group focused on enhancing U.S. leadership in digital financial technology. However, the specifics of Trump’s digital asset regulatory approach over the next four years have yet to be outlined.
Trump and his wife, Melania, faced criticism before his January 20 inauguration for launching their own memecoins, which later declined in value after his return to the Oval Office.