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Trump launches Truth.Fi brand and announces new crypto investments
By Davide Grammatica
The new fintech arm of the Trump Media and Technology Group is born: called Truth.Fi, it will be a vehicle for new investments in crypto and Bitcoin
Trump's latest move
Donald Trump takes another step into crypto. Trump Media and Technology Group , the group that also runs the social platform Truth, has announced the launch of a new branch dedicated to financial services: Truth.Fi.
It is the result of a diversification strategy that looks with interest at the crypto industry. In fact, one of the key steps in the announcement concerns precisely a $250 million investment plan in Bitcoin and other cryptocurrencies. Banking giant Charles Schwab will serve as the intermediary, but it is not yet clear how the company will execute this investment under the terms of the bank, which to date offers products such as ETFs but not direct buying or selling.
“Our goal is to create a robust ecosystem through which U.S. patriots can protect themselves from the ever-present threat of censorship, debanking and privacy violations committed by big tech companies and woke companies,” Devin Nunes, ceo of Trump Media, said of the announcement.
The prospects for Truth.Fi
The initiative comes on the heels of a whole series of deals that have brought the president closer to the crypto world. Already on the campaign trail he anticipated his intention to establish a new “national” strategic reserve in Bitcoin. He then launched, on his inauguration day at the White House, his official memecoin $TRUMP.
Now, however, he would aim with Truth.Fi to challenge American big tech on the ground of “free speech,” winking, in some respects, at the entire crypto community.
Precisely cryptocurrencies are one of the channels through which to “break free” from the hegemony of big tech companies, if only (according to Truth.Fi’s purpose) from a financial point of view.
