Trump Media and Technology group (TMTG), the media outlet behind Truth Social announced the launch of TruthFi, a new financial services and fintech brand. According to the press release dated January 29, TMTG currently holds over $700 million in cash and equivalents as of December 31, 2024. The company’s board has approved an investment of up to $250 million into various crypto and financial market assets.
Trump Media’s Investment Strategy
The strategy that is being adopted by the media house includes allocation in Bitcoin, crypto-related securities, customized exchange-traded funds (ETFs), separately managed accounts (SMAs), and traditional investment vehicles.
TMTG Chairman Devin Nunes stated “Truth.Fi is a natural expansion of the Truth Social movement. 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.”
Expansion of TMTG’s Presence in Cryptocurrency
This move aligns with President Donald Trump’s pro-crypto stance, as he continues to vouch for U.S. leadership in digital assets. In addition to TruthFi, TMTG has initiated World Liberty Financial, another crypto venture. The company also operates Truth Social, a social media platform in which Trump holds approximately 50% of its stake.
Skepticism and Future Prospects
As the announcement was made, some users on X expressed skepticism about the legitimacy of TruthFi, with questions arising about the venture’s credibility. As TruthFi is getting ready to launch its multiple investment products and services in 2025, it will interesting to watch how does the community respond to TMTG’s expanding presence in the cryptocurrency sector.
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