The post Trump Media Launches Truth.Fi to Invest in Crypto and FinTech appeared first on Coinpedia Fintech News
U.S. President Donald Trump’s media company took a significant step into the crypto space on Wednesday with the launch of Truth.Fi, a fintech brand that may invest in bitcoin and other cryptocurrencies, as well as crypto-related securities.
Trump Media and Technology Group Corp, operator of the social media platform Truth Social and the video streaming platform Truth+, announced today that the company’s board of directors has approved a financial services and financial technology strategy, which will include the launch of the financial services and FinTech brand Truth.Fi.
“To diversify the Company’s cash and cash-equivalent reserves of over $700 million as of December 31, 2024, the board has approved the investment of up to $250 million,” the press release noted.
The investment capital will be invested in traditional investment vehicles, separately managed accounts (SMAs), exhange-traded funds (ETFs), “bitcoin and similar cryptocurrencies or crypto-related securities,” the company also said. Trump owns over 50% of Trump Media and Technology Group, which operates the social media platform Truth Social.