Donald Trump’s Media and Technology Group (DJT), managing the social network Truth Social, announced on Thursday the launch of a financial services platform called Truth.Fi, focusing on cryptocurrencies and Exchange-Traded Funds (ETFs). The company’s board has approved an investment of up to $250 million in Charles Schwab, allocating the capital to customized managed accounts, custom ETFs, Bitcoin, and other crypto-related securities. Charles Schwab will also provide investment advice on Truth.Fi’s strategies. Trump’s Media and Technology Group CEO, Devin Nunes, stated that Truth.Fi is a natural expansion of the Truth Social movement, evolving from a free speech-based social media platform to a high-speed streaming TV service, and now venturing into decentralized investment products and financial matters. Following this news, DJT’s stock value surged over 10%. Truth.Fi is the latest move by companies affiliated with Donald Trump in the digital asset sector. Previously, Trump and his family had launched the decentralized financial protocol World Liberty Financial. Additionally, just days before his inauguration on January 20, Trump launched his official meme coin on the Solana network, causing speculation among crypto traders and stirring reactions from industry players.
