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Trump Media Launches Fintech Brand, Ventures into Cryptocurrency Investment

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Minseung Kang
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  • Trump Media announced plans to launch the financial services and fintech brand 'Truth.Fi' within the year.
  • Key investments include diversifying up to $250 million through the financial firm Charles Schwab.
  • The board particularly stated that investments will be made in exchange-traded funds (ETFs) and cryptocurrencies like Bitcoin.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

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Donald Trump's media company, 'Trump Media', is launching a fintech brand to engage in various related businesses.

According to Reuters on the 29th (local time), Trump Media announced that its board of directors approved the launch of a financial services and fintech brand 'Truth.Fi', and plans to introduce it within the year after obtaining approval from financial authorities.

Additionally, the board approved a plan to invest up to $250 million (approximately 360.7 billion KRW) through the financial firm Charles Schwab to diversify its assets. The assets will be invested in exchange-traded funds (ETFs) and cryptocurrencies, including Bitcoin (BTC).

The major shareholder of Trump Media is President Donald Trump himself.

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minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.