Trump Media & Technology Group (TMTG) is venturing into financial services, introducing Truth.Fi for cryptocurrency investment. This move has sparked a 15% share price rise but raises conflict of interest alarms due to Trump's previous crypto-related initiatives. The proposed investment includes up to $250 million into cryptocurrencies managed by Charles Schwab. CEO Devin Nunes emphasized this expansion reflects their broader goals of creating a network of finance and technology serving 'American patriots', amidst challenges in establishing a competitive social media presence.
Shares in Trump Media & Technology Group surged 15% after announcing a new venture into financial services, including cryptocurrencies, posing potential conflict of interest concerns.
Devin Nunes highlights that Truth.Fi is a logical expansion of the Truth Social movement, aiming to offer decentralized finance options to protect American patriots.
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