Trump Media and Technology Group has announced the approval of its new financial services brand, Truth.Fi, aiming to diversify its cash holdings, which are currently over $700 million. The company will invest up to $250 million through Charles Schwab, planning to explore avenues like Bitcoin and exchange-traded funds. This strategic shift into finance aligns with a broader pro-crypto trend following key elections, as Trump previously indicated strong support for digital assets to make the U.S. the 'crypto capital' globally. Truth.Fi is set to launch in 2025 pending regulatory approvals.
Trump Media and Technology Group's board has approved the launch of Truth.Fi, a financial services brand, aiming to diversify assets and leverage a pro-crypto climate.
The investment of up to $250 million underlines Trump Media's intention to tap into various asset classes, including cryptocurrencies, as part of its wider financial strategy.
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