Trump Media and Technology Group announced Wednesday that it is expanding into financial services, including investment vehicles. Shares of the Truth Social…
Shares of the Truth Social parent company, which trade under the ticker DJT, jumped more than 15% in premarket trading.The financial services division will be known as Truth.Fi, and it will be started with up to $250 million from the company that will be custodied with Charles Schwab, according to the press release. That money will be allocated to customized exchange traded funds and cryptocurrencies, among other investment vehicles.
The company said it expects to launch products and services, including its own investment vehicles, later this year. "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," said TMTG CEO and Chairman Devin Nunes in the press release.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US ETFs Top $10 Trillion in Assets, Alternative ETFs SurgeU.S. exchange-traded funds (ETFs) have hit a record $10 trillion in assets. November saw strong flows into ETFs, with both traditional and alternative ETFs experiencing significant growth.
Read more »
Bitcoin ETFs Suffer $582 Million Net Outflow, Ether ETFs Bleed $159MThe ETFs bleed money as renewed U.S. inflation fears dent Fed rate cuts and boost bond market volatility
Read more »
Trump's 'Victories' Over Legacy Media: A Media Analyst's TakeMedia analyst Matt O'Connor argues that Donald Trump's persistent attacks on 'fake news' have finally paid off, leading to a decline in trust in traditional media outlets. O'Connor credits the public's growing awareness of media bias during the COVID-19 pandemic and the 2024 election for this shift. He believes this signifies a new era where citizen journalism and alternative media gain legitimacy, while traditional media loses its dominance.
Read more »
REX Shares and Osprey File for Crypto ETFs Including Trump Meme CoinAsset managers REX Shares and Osprey have filed a wave of new cryptocurrency exchange-traded funds (ETFs) with the SEC, including ETFs tracking TRUMP, BONK, DOGE, Bitcoin, Ethereum, XRP, and Solana. This filing comes shortly after President Trump's inauguration and appointment of a new SEC Chair, fueling speculation of a more crypto-friendly regulatory environment.
Read more »
Kai Trump's Social Media Skyrockets After Donald Trump's WinKai's latest YouTube vlog, 'My grandpa became the president again,' has racked up 2.4 million views in 48 hours.
Read more »
TRUMP, XRP ETF News: Tuttle Capital Proposes First-Ever Leveraged ETFsThe daily performance returns of these tokens will be tracked and generated through swaps, call options, and direct investments, per the filing.
Read more »