Home Trump Media launches Truth.Fi: ETF and crypto focused fintech

Trump Media launches Truth.Fi: ETF and crypto focused fintech

Trump Media and Technology Group (DJT) — the operator of Donald Trump-linked social media platform Truth Social — just announced the launch of Truth.fi.

Per the announcement, Truth.Fi is financial services platform with cryptocurrencies and exchange-traded funds (ETFs) as its primary focus. Trump Media and Technology Group’s board concurrently approved an investment of $250 million at major asset manager Charles Schwab.

The details

According to a Securities and Exchange Commission (SEC) filing, the invested funds are potentially being allocated to separately managed accounts, ETFs and Bitcoin or similar cryptocuirrencies or crypto-related securities. Charles Schwab will also be advising Truth.Fi’s investments and strategy. Trump Media CEO and Chairman Devin Nunes is quoted in the announcement:

“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.

At the time of writing, Trump Media and Technology Group’s shares are trading at $32.52. This is about 8.3% higher than when trading started earlier today.

Trump is increasingly involved in the cryptocurrency space, enough to raise concerns among some circles. As recently reported, Democrat Representative Gerald Connolly called on the United States Committee on Oversight and Government Reform to Investigate United States President Donald Trump’s crypto projects. He wrote in a letter to the committee:

“This Committee must take immediate action to investigate the grave conflicts of interest Donald Trump carries with him to the Office of the President. […] Presidential conflicts of interest are proliferating wildly. […] President Trump’s new crypto venture, World Liberty Financial (WLF), provides one particularly troubling example.”

Furthermore, Trump’s TRUMP memecoin is also shrouded in controversy. Onchain analytics firm Bubblemaps recently investigated a crypto wallet funded with $1 million four hours before the TRUMP memecoin launched, as announced in a Jan. 18 X post. The address appears with high likelihood to have known of the launch in advance.

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech, gambling and blockchain industries for major developments, new product and brand launches, AI breakthroughs, game releases and other newsworthy events. Editors assign relevant stories to in-house staff writers with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Adrian Zmudzinski is a cryptocurrency journalist with over 4,000 articles under his belt. His bylines include Cointelegraph, Benzinga, Crypto.News, and BeInCrypto.

Get the biggest tech headlines of the day delivered to your inbox

    By signing up, you agree to our Terms and Privacy Policy. Unsubscribe anytime.

    Tech News

    Explore the latest in tech with our Tech News. We cut through the noise for concise, relevant updates, keeping you informed about the rapidly evolving tech landscape with curated content that separates signal from noise.

    In-Depth Tech Stories

    Explore tech impact in In-Depth Stories. Narrative data journalism offers comprehensive analyses, revealing stories behind data. Understand industry trends for a deeper perspective on tech's intricate relationships with society.

    Expert Reviews

    Empower decisions with Expert Reviews, merging industry expertise and insightful analysis. Delve into tech intricacies, get the best deals, and stay ahead with our trustworthy guide to navigating the ever-changing tech market.