Trump Media Reveals Truth.Fi, Plans Crypto Portfolio Expansion
The board of Trump Media and Technology Group Corp. has greenlit a bold expansion strategy, which includes the launch of a financial services division under the FinTech brand Truth.Fi and an allocation of company reserves into cryptocurrency investments.
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The announcement was made Wednesday, January 29, in a press release detailing the company’s ambitious new direction. As the force behind Truth Social and Truth+, Trump Media is positioning itself at the intersection of social media, streaming, and digital finance.
Back in 2021, Donald Trump found himself ousted from mainstream social media, as Facebook, Instagram, and X (formerly Twitter) suspended his accounts, citing risks tied to his statements.
In a dramatic turn, Trump was eventually unbanned, and during his presidential run, he returned to X, a move that came long after Elon Musk’s takeover of the platform.
Truth.Fi is a natural expansion of the Truth Social movement. 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. Developing American First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations,
said TMTG CEO and Chairman Devin Nunes.
In a move to broaden its financial footprint, Trump Media intends to allocate up to $250 million into a diversified portfolio. The company is weighing investments in Bitcoin, crypto-backed ETFs, individual managed accounts, and securities linked to the cryptocurrency industry.
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