Trump Media Expands into Financial Services with Truth.Fi
Trump Media, the parent company of the Truth Social platform, has announced the launch of a new financial services division called Truth.Fi. The division will be backed by up to $250 million in funding and will offer a range of investment vehicles, including exchange-traded funds and cryptocurrencies.
The company’s CEO and Chairman, Devin Nunes, stated that the move is a natural extension of the Truth Social movement, which began with the creation of a free-speech social media platform and has now expanded to include an ultra-fast TV streaming service.
The new financial services division will focus on “American growth, manufacturing, and energy companies as well as investments that strengthen the Patriot Economy,” according to a company release. The division will also be advised by Charles Schwab, a leading brokerage firm, which will help launch products and services later this year.
The announcement comes as Trump Media also addressed complaints from Republicans about unequal treatment from banks. President Donald Trump has criticized big banks, including Bank of America and JPMorgan Chase, for allegedly discriminating against conservatives. The new financial services division may provide an alternative for those who feel they have been unfairly targeted by the banking industry.
With the launch of Truth.Fi, Trump Media is set to become a major player in the financial services sector, challenging existing players such as X, a company founded by Elon Musk, which recently announced a deal with Visa to expand its services beyond social media. As a key advisor to President Trump, Musk is likely to have played a role in the creation of Truth.Fi, which may be seen as a competitor to his own company.
