Politics
Trump Media announces plans to develop in the crypto | Donald Trump
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Donald Trumps The social media startup announced his intention to develop in financial services, including cryptocurrencies, attracting the commercial empire of presidents in Crypto while his administration seeks to stimulate space.
Trump Media & Technology Group's shares, owner of Trumps Truth Social Platform, jumped 15% during pre-commercial negotiations after announcing the launch of Truth.fi, a brand of financial technology truth.fi, in a brief statement.
In a decision likely to arouse new problems of interest conflict, Trump Media or TMTG, said that he planned to invest up to $ 250 million in investment and bitcoin accounts and cryptocurrencies similar or titles related to crypto.
The funds will be managed by the Charles Schwab brokerage, he said.
The president has already been criticized for launching a piece of cryptocurrency memes of several billion dollars on the eve of its inauguration last week. The former government's ethics officials and presidential experts said that the company was equivalent to a shameful conflict because Trump had committed to transforming the United States into the world capital of cryptography.
Trump Media had a hard time building a social network that is close to that created by Facebook and Instagram, belonging to Meta Platforms; or x, belonging to Elon Musk. But his status as a stock of the same helped him increase tens of millions since his return to the stock market last year.
The company, which belongs to the majority by Trump, plans to deploy several investment vehicles under its brand Truth.Fi this year, according to the announcement on Wednesday.
Truth.fi is a natural expansion of the social movement of truth, said Devin Nunes, CEO of Trump Media. We started by creating a free social media platform, added an ultra-fast television streaming service, and we have now moved to investment products and decentralized finances.
The development of the first American investment vehicles is another step towards our objective of creating a robust ecosystem through which American patriots can protect themselves from the omnipresent threat of cancellation, censorship, debannage and violations of life committed by large technologies and woken up companies.
Sources 2/ https://www.theguardian.com/us-news/2025/jan/29/trump-media-crypto The mention sources can contact us to remove/changing this article |
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