President Donald Trump is making another move into the cryptocurrency space.
His media company, Trump Media & Technology Group (TMTG), has officially launched Truth.Fi, a financial services and fintech venture that will invest up to $250 million in various assets, including Bitcoin (BTC) and other cryptocurrencies.
A Major Step Into Financial Services
According to an official press release, TMTG’s board of directors has approved a financial technology strategy aimed at diversifying the company’s $700 million in cash reserves. The approved strategy will allow Truth.Fi to invest in:
- Traditional investment vehicles
- Separately Managed Accounts (SMAs)
- Exchange-Traded Funds (ETFs)
- Bitcoin and other cryptocurrencies
- Crypto-related securities
This move signals an aggressive push into the crypto and fintech sector, aligning with Trump’s pro-crypto stance in recent years.
Trump’s Growing Involvement in Crypto
The launch of Truth.Fi follows Trump’s broader embrace of digital assets. During the 2024 election cycle, he positioned himself as a pro-crypto candidate, and his team has also been involved in the creation of World Liberty Financial, another crypto-related initiative.
In November 2023, TMTG filed a trademark application for financial services, hinting at its ambitions in the fintech and cryptocurrency industry.
