Trump Media & Technology Group (TMTG), Donald Trump‘s company behind Truth Social and the streaming platform Truth+, announced the launch of Truth.Fi.
On Jan. 29, the company announced that it plans to develop a range of investment products that align with what it calls an “America-first” strategy. These investments could include customized exchange-traded funds (ETFs), separately managed accounts (SMAs), and even exposure to Bitcoin and other cryptocurrencies. TMTG says the focus will be on industries like manufacturing, energy, and other sectors it believes contribute to what it calls the “Patriot Economy.”
With over $700 million in cash reserves as of the end of 2024, TMTG is allocating up to $250 million for these investments. The funds will be custodied by Charles Schwab, which will also help develop SMAs. Yorkville Advisors, a firm known for working with small and mid-sized companies, will act as the registered investment adviser (RIA) for Truth.Fi’s financial products.
CEO Devin Nunes framed the move as part of the company’s broader goal of offering alternatives to traditional institutions, which TMTG often portrays as politically biased. According to Nunes, Truth.Fi is a logical next step for the company, following the launch of Truth Social as a free-speech alternative to mainstream social platforms and the introduction of Truth+, its streaming service. He emphasized that the new financial venture is intended to provide American investors with options outside of what he called “Big Tech and woke corporations.”
TMTG has been hinting at a move into fintech for a while. Back in November 2024, reports surfaced that the company had filed a trademark application for the name “TruthFi,” describing it as a payment platform for digital assets. At the time, it was unclear whether this was just a defensive move to protect the brand or a sign of real business plans.
The company hasn’t provided a detailed timeline for when Truth.Fi’s products will hit the market, but it says multiple investment vehicles are planned for rollout in 2025. This will depend on finalizing partnerships, securing funding, and clearing regulatory hurdles.
Trump Media stock (DJT) surged following the announcement. Shares rose from $30.04 at market close on Jan. 28 to $35.30 in pre-market trading on Jan. 29, reflecting a 17.51% jump at press time.
The post Trump Media stock soars on launch of new fintech venture Truth.Fi appeared first on CryptoSlate.
