The company “Truth Social”, founded by Donald Trump, is expanding its activities beyond social networks and plans to enter the financial services market, investing up to $250 million in cryptocurrency and other assets. About this informs Financial Times.
The media holding “Trump Media and Technology Group” (TMTG), where Trump is the majority shareholder, announced the creation of the financial platform “Truth.Fi”. The new initiative provides for the possibility of investing in bitcoin, other cryptocurrencies, as well as traditional assets.
Company representatives said that “Truth.Fi” will focus on supporting fast-growing American enterprises, the industrial sector, energy and other industries that will contribute to the development of the US economy.
In addition, the platform will offer individual asset management (SMA) services, work with ETFs and digital assets. In the implementation of investment strategies, “Truth.Fi” will cooperate with the brokerage company “Charles Schwab Corp.”, which will provide consultations. After the announcement of the launch of the new platform, TMTG shares rose by 10%.
