Trump Media Stock Surges After Truth.Fi Launch
Date: 2025-01-30 Author: Henry Casey Categories: BUSINESS
The media holding TMTG, partly owned by former US President Donald Trump, has announced its entry into the financial services and crypto investment market with the launch of Truth.Fi. According to the company, the new fintech service will offer clients investment accounts, ETFs, as well as the ability to invest in bitcoin and other cryptocurrencies.
TMTG CEO Devin Nunes emphasized that all Truth.Fi products will be focused on the “American First” strategy. This means that key attention will be paid to investments in areas that support the so-called patriotic economy.
— The development of American First investment vehicles is an important step toward creating a stable ecosystem that will help American patriots protect themselves from the threat of cancellation, censorship, account blocking, and privacy violations from large corporations and tech giants, — said Nunes, who also took a position in the new Trump administration.
TMTG will allocate up to $250 million to the development of Truth.Fi. Charles Schwab will take over investment management and strategy advice, and Yorkville Advisors will act as a registered investment adviser.
On the back of this news, TMTG shares jumped more than 17.5%, rising from $30.04 to $35.3.
