Trump Media, owner of the social media network Truth Social, announced its plans to launch a fintech services company. The announcement notes the possibility of venturing and investing in cryptocurrencies.
According to local sources, this move was announced in an earlier trademark application filed in November 2024.
The company’s statement read that its board of directors has approved plans to diversify holdings and invest in cryptocurrencies. These assets include Bitcoin, Ethereum, and other assets alongside exchange-traded funds and other crypto-related securities.
Trump Media Stocks Skyrocket
Following the announcement of the launch of its fintech services platform, Trump Media stocks, DJT, surged as high as 7%.
The company approved an investment of up to $250 million to bolster and diversify its assets, which exceeded over $700 million in 2024.
Trump Media CEO Devin Nunes said, “We look forward to launching Truth.Fi, introducing TMTG’s investment vehicles and unlocking synergies.”
He continues, “Truth.Fi is a natural expansion of the Truth Social movement. We created a free-speech and social media platform and added an ultra-fast TV streaming service. Now we’re moving into investment products and decentralized finance.“
Devin further discussed the need for new financial tools, specifically American First investment vehicles. He aims “to create a powerful system that helps American patriots protect themselves from threats like cancellation, censorship, debanking, and privacy violations by Big Tech and woke corporations.”
The media company expects to roll out its products after meeting financial regulations and establishing funding levels.
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