Today, Truth Social parent Trump Media and Technology Group announced its approval of the launch of a financial services and FinTech brand called Truth.Fi.
In the announcement, Trump Media said, “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.”
The company said, “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.”
TMTG CEO and Chairman Devin Nunes told investors, “We look forward to launching Truth.Fi, introducing TMTG’s investment vehicles, and unlocking synergies. Truth.Fi is a natural expansion of the Truth Social movement. We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance. Developing American First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations.”
Truth.Fi products and services, including multiple investment vehicles, are to be rolled out in 2025.
By CEO NA Editorial Staff
