Catenaa, Wednesday, February 05, 2025 – Trump Media & Technology Group announced Wednesday, January 29, the launch of Truth.Fi, a financial services and fintech brand, as it moves to expand its business amid a cryptocurrency market rally.
The company’s board authorized an investment of up to $250 million through Charles Schwab to diversify cash holdings that exceeded $700 million at the end of last year. The funds will be allocated to exchange-traded funds, separately managed accounts, Bitcoin and other digital assets.
The move follows Donald Trump’s return to the White House in November and the election of pro-crypto lawmakers to Congress, fueling a surge in Bitcoin and broader crypto markets. Trump has pledged to make the U.S. the “crypto capital of the planet.”
Truth.Fi products and services are expected to launch in 2025, pending regulatory approvals and funding determinations, the company said. Charles Schwab will advise on the brand’s investments and strategy.
Trump Media, the parent company of social media platform Truth Social, has also expanded into streaming services with Truth+ Streaming. Despite growth efforts, the company reported a $19 million third-quarter loss in November, citing legal fees and costs tied to its streaming deal.
Shares of Trump Media jumped more than 11% in early trading following the announcement.
