Trump Media Announces Expansion into Financial Services
Trump Media and Technology Group Corp. (Nasdaq: DJT) (“TMTG”), operator of the social media platform Truth Social and the video streaming platform Truth+, is announcing 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 to be custodied by Charles Schwab. In addition to traditional investment vehicles, these funds may be allocated to: Customized separately managed accounts (“SMAs”); Customized exchange-traded funds (“ETFs”); Bitcoin and similar cryptocurrencies or crypto-related securities. The SMAs will be developed in partnership with Charles Schwab, which would also broadly advise on TMTG’s Truth.Fi investments and strategy. An affiliate of…
