Trump Media and Technology Group has announced that on January 29th, its board of directors approved the establishment of the FinTech and financial services brand Truth.Fi.
Truth.Fi is the latest expansion for the Trump Media and Technology Group (DJT), which is branching out into FinTech and financial services.
Trump Media and Technology Group Enters Financial Arena
According to the official announcement, of its more than $700 million in cash reserves, the corporation intends to invest up to $250 million through Charles Schwab, concentrating on a range of investment vehicles such as SMAs, ETFs, and cryptocurrencies.
The investment vehicles will prioritize American manufacturing, energy, and growth firms, as well as investments that bolster the Patriot Economy.
According to the firm’s official website, TMTG’s goal is to restore people’s voices and open up the Internet in order to stop Big Tech’s attack on free speech.
TMTG runs Truth+, a TV streaming service that specializes in family-friendly live TV channels and on-demand programming, and Truth Social, a social media network created as a haven for free speech in the face of harsher repression by Big Tech companies.
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When Will The Services Be Rolled Out?
The company expects to provide Truth.Fi products and services, including various investment vehicles, in 2025 after finalizing new contracts, figuring out funding levels, and obtaining any required financial regulator approvals.
With this extension, TMTG’s portfolio—which already includes the Truth+ streaming service and the Truth Social platform—will be expanded in the fintech and financial services.
“We look forward to launching Truth.Fi, introducing TMTG’s investment vehicles, and unlocking synergies,” said TMTG CEO and Chairman Devin Nunes.
He added, “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.”
The platform’s capacity to operate smoothly across a variety of financial products while maintaining competitive price structures and regulatory compliance will be crucial to its success.
Community-driven investing strategies and social trading capabilities could be made possible by a successful integration with Truth Social’s ecosystem. This would increase the platform’s attractiveness and provide a more dynamic trading experience by allowing users to connect with one another, exchange ideas, and work together on investments.
Chairman Devin Nunes also said “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.”
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