Trump Media Expands Into Financial Services With Truth.Fi

Trump Media and Technology Group (TMTG) is expanding into the financial services sector with the launch of Truth.Fi, a platform focusing on investment products including exchange-traded funds and cryptocurrency services. CEO Devin Nunes described this initiative as a safeguard against financial censorship and a way for 'American patriots' to protect themselves from perceived threats posed by Big Tech and 'woke' corporations. The company plans to allocate up to $250 million from its cash reserves, which exceed $700 million, with Charles Schwab managing the investments. The rollout is expected later this year, pending regulatory approvals, and follows a series of crypto-related ventures, including the introduction of cryptocurrencies by Trump and his wife. Shares in TMTG rose significantly following the announcement, reflecting positive investor sentiment. Critics have raised concerns regarding potential conflicts of interest related to Trump's cryptocurrency dealings.