By Guest 
The Trump Media and Technology Group (DJT), which operates the social media platform Truth Social, announced on Wednesday the launch of a new financial services platform called Truth.Fi.
This platform will focus on cryptocurrencies and exchange-traded funds (ETFs), marking the group’s latest foray into the digital asset space.
Trump’s New Venture in FinTech
In a significant move, the company’s board of directors has approved an investment of up to $250 million in Charles Schwab (SCHW), a leading asset management firm. According to documents filed with the U.S. Securities and Exchange Commission (SEC), these funds will be allocated to custom-managed accounts, custom ETFs, as well as Bitcoin (BTC) and other cryptocurrencies or crypto-related securities. As part of this collaboration, Charles Schwab will also provide advisory services to Truth.Fi on investment strategies and financial products.
Devin Nunes, CEO and Chairman of the Board of the Trump Media and Technology Group, stated, “Truth.Fi is a natural extension of the Truth Social movement. We started by creating a social media platform based on free speech, then added an ultra-fast television streaming service, and now we are entering the realm of investment and decentralized finance products.”
Following the announcement, the stock price of DJT surged by more than 10%, reflecting investor enthusiasm for the new venture.
Truth.Fi represents the latest initiative by companies associated with Donald Trump in the digital asset sector. Previously, Trump and his family had launched the decentralized finance protocol World Liberty Financial. Additionally, just days before his inauguration on January 20th, Trump introduced his official meme coin on the Solana (SOL) blockchain, sparking a flurry of speculation among crypto traders and eliciting reactions from various industry participants.
This strategic move into the financial technology sector underscores Trump’s continued interest in diversifying his business portfolio and capitalizing on the growing popularity of cryptocurrencies and digital assets. The collaboration with Charles Schwab, a trusted name in finance, is expected to lend credibility and expertise to Truth.Fi’s operations, potentially attracting a wide range of investors interested in exploring the burgeoning world of decentralized finance and digital currencies.
As the financial landscape continues to evolve, Truth.Fi aims to position itself as a key player in the intersection of traditional finance and the emerging digital economy, offering innovative solutions and investment opportunities to its users. The platform’s focus on cryptocurrencies and ETFs reflects a broader trend of increasing institutional interest in digital assets, signaling a potential shift in how financial services are delivered and consumed in the future.