Trump Media Stock Surges on Crypto Expansion Plans
Wednesday, Jan 29, 2025 11:56 am ET
4min read 
The Trump Media and Technology Group (TMTG), the parent company of the social media platform Truth Social and the video streaming service Truth+, has announced its plans to launch a financial services and financial technology brand called Truth.Fi. The company's board of directors has approved a strategy that includes the investment of up to $250 million, custodied by Charles Schwab, to diversify its cash and cash-equivalent reserves. This investment will be allocated to customized separately managed accounts (SMAs), customized exchange-traded funds (ETFs), and cryptocurrencies or crypto-related securities.
The SMAs will be developed in partnership with Charles Schwab, which will also advise on TMTG's Truth.Fi investments and strategy. An affiliate of Yorkville Advisors will serve as the Registered Investment Adviser for investment vehicles and financial products, focusing on investments in American growth, manufacturing, and energy companies, as well as investments that strengthen the "Patriot Economy."
TMTG CEO and Chairman Devin Nunes expressed his excitement about the launch of Truth.Fi, stating that it is a natural expansion of the Truth Social movement. He believes that developing American First investment vehicles is another step towards 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.
The expansion into financial services and cryptocurrencies aligns with TMTG's core mission of ending Big Tech's assault on free speech. By offering investment vehicles and decentralized finance (DeFi) options, TMTG aims to provide users with financial independence and a way to circumvent traditional banking systems that have been accused of unfairly treating conservatives. Additionally, Truth.Fi's focus on investing in American growth, manufacturing, and energy companies, as well as investments that strengthen the "Patriot Economy," further supports TMTG's mission to empower American patriots and protect them from Big Tech's influence.
The partnership with Charles Schwab and Yorkville Advisors is expected to significantly influence the development and management of Truth.Fi's investment vehicles. Charles Schwab will broadly advise TMTG on its Truth.Fi investments and strategy, including the development of customized ETFs and SMAs that align with TMTG's "American First" principles. Schwab's expertise in investment management and financial services will be invaluable in creating investment vehicles that cater to the preferences and values of TMTG's target audience. Additionally, Charles Schwab will custody up to $250 million of TMTG's cash reserves, ensuring the safety and security of these funds. An affiliate of Yorkville Advisors will serve as the Registered Investment Adviser for Truth.Fi's investment vehicles and financial products, ensuring regulatory compliance and protecting investors' interests.
In conclusion, the expansion of Trump Media and Technology Group into financial services and cryptocurrencies under the Truth.Fi brand is a strategic move that aligns with the company's core mission of ending Big Tech's assault on free speech. By offering investment vehicles and decentralized finance options, TMTG aims to provide users with financial independence and a way to circumvent traditional banking systems. The partnership with Charles Schwab and Yorkville Advisors will significantly influence the development and management of Truth.Fi's investment vehicles, ensuring a focus on American growth, manufacturing, and energy companies, as well as investments that strengthen the "Patriot Economy." As TMTG continues to grow and diversify its offerings, investors and users alike can expect a robust ecosystem that empowers American patriots and protects them from the perceived threats of Big Tech and woke corporations.
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