Trump Media & Technology Group (TMTG), the parent company of Truth Social, has announced a bold expansion into financial services, including cryptocurrencies. The move, revealed in a brief statement on Wednesday, includes the launch of Truth.Fi, a financial technology brand that will oversee various investment products.
The announcement sent TMTG shares soaring by 15% in pre-market trading, as the firm pledged to invest up to $250 million in investment accounts, Bitcoin, and other crypto-related securities.
A Controversial Move Amid Rising Crypto Focus
This latest venture is expected to ignite fresh conflict-of-interest concerns, particularly given Trump’s recent push to make the United States a global crypto hub. Critics have already slammed his administration for launching a multibillion-dollar meme coin just before his inauguration. Former government ethics officials have labeled these actions as a “shameful” conflict of interest.
Despite this, Trump Media appears committed to building an ecosystem that merges free speech, investment products, and decentralized finance.
Truth.Fi: A New Chapter for Trump’s Business Empire
Truth.Fi is set to introduce “multiple investment vehicles” this year, marking TMTG’s most significant foray into the financial sector. The firm has struggled to compete with established social media giants like Meta’s Facebook and Instagram or Elon Musk’s X. However, it has successfully leveraged its status as a “meme stock” to raise substantial funds since going public last year.
Devin Nunes, CEO of Trump Media, framed the expansion as a natural progression of the Truth Social movement. He emphasized that the company’s goal is to provide “American First investment vehicles” as a hedge against big tech censorship, financial exclusion, and privacy threats.
A Shift Toward Crypto-Friendly Policies?
Trump’s pivot toward crypto could signal a broader shift in U.S. financial policy. His administration’s aggressive stance on tariffs and international agreements has already dominated headlines. If the U.S. truly moves toward becoming a crypto powerhouse, regulatory frameworks and financial markets will face major transformations.
With Trump Media’s Truth.Fi now in the mix, the crypto industry is bracing for an unpredictable but potentially lucrative chapter ahead.
