The media company of American president Donald Trump, Trump Media & Technology Group (TMTG), has unveiled ambitious plans to develop in financial services, including cryptocurrency investments.
In addition, TMTG revealed that it could invest up to $ 250 million in various financial instruments, including Bitcoin, other cryptocurrencies and the titles linked to the crypto.
In a press release dated January 29, 2025, the company said: “To diversify the company’s cash and cash reserves of more than $ 700 million on December 31, 2024, the Council approved the investment that can reach $ 250 million to be kept by Charles Schwab.
“In addition to traditional investment vehicles, these funds can be allocated to: The accounts managed separately personalized (SMAS); Funds negotiated on personalized exchanges (ETF); Bitcoin and similar cryptocurrencies or titles linked to crypto. »»
RUP: @Tmtgcorp launches the truth. FI, extending into financial services and fintech
The company plans to invest up to $ 250 million in investments by focusing on SMAS, ETF and Crypto pic.twitter.com/xupoivthmr
– cryptosrus (@Cryptosr_us) January 29, 2025
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TMTG shares jumped 15%
The announcement sent TMTG actions on 15% in pre-commercial exchanges.
TMTG, which has the TRUTH social platform – a network of social media launched as a free alternative to traditional platforms – has revealed its plans to launch Truth.fi, a brand of financial technology aimed at offering products and services ‘investment.
Commenting on the development, the CEO and president of TMTG, Devin Nunes, said: “Truth. Fi is a natural expansion of the social movement of truth”.
“We started by creating a free social media platform, added an ultra-fast television streaming service, and now we are moving into investment products and decentralized finances,” said Nunes. “The development of the first American investment vehicles is another step towards our objective of creating a robust ecosystem through which American patriots can protect themselves from the always present threat of cancellation, censorship, debannage and violations of the private life committed by major technologies and woken up companies. ”
The company has plans for truth.fi, with several investment products which should be launched throughout 2025.
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Another controversial movement
It is not the first controversial or ethically questionable movement that Trump has drawn in recent days. A few days ago, he Launched Trump, a piece of memes without utility. As expected, it has skyrocketed, dominating more than $ 18 billion in value in a few days.
Less than 12 hours before the inauguration, the first lady, the first lady, Melania Trump joined the train even corner, launching her token, Melania.
The event sequence in the last The days were unprecedented. This has marked the first time since the creation of Bitcoin according to which a president or a president -elected president of any country has published a token – alone in a piece of memes – during his duties or about to take over.
The pieces even Trump and Melania were market movers, arousing Solana, Ethereum and Bitcoin rallies.
Explore: Will the Crypto Trump even Coin and Melania end in the very first national carpet?
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