Donald Trump’s media company has launched a financial services and fintech brand, Truth.FI, marking its entry into crypto investments and customized exchange-traded funds (ETFs). Shares in Trump Media and Technology Group (TMTG), which owns the Truth Social platform, surged more than 10% in early trading following the announcement.
TMTG revealed that Truth.FI will manage up to $250 million in assets, held in custody by Charles Schwab, and allocated to separately managed accounts, customized ETFs, and “bitcoin and similar cryptocurrencies or crypto-related securities.”
TMTG CEO Devin Nunes described the expansion as a natural progression of the Truth Social movement, stating, “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.” He framed the initiative as a way for “American patriots” to protect themselves from Big Tech censorship, debanking, and privacy violations.
Truth.FI is set to roll out investment products and services later this year, including its own investment vehicles. Trump’s embrace of crypto has contributed to Bitcoin’s rise past the $100,000 mark since his election. His administration has also issued an executive order investigating the creation of a national digital asset stockpile.