Trump Media and Technology Group (TMTG), a media company of US President Donald Trump, has announced an ambitious plan to expand it to financial services, including cryptocurrency investment.
In addition, TMTG has stated that it may invest up to $ 250 million in various financial products, including bitcoin, other cryptocurrencies, and cryptographic securities.
In a press release on January 29, 2025, the company stated: “As of December 31, 2024, the Board has approved up to $ 250 million in order to diversify the cash of over $ 700 million and cash equivalent to cash. Charles Schwab. “
“In addition to conventional investment vehicles, these funds may be assigned as follows. Customized exchange trading fund (ETF); Cryptocurrency or cryptocation -related securities similar to Bitcoin. “
destruction: @tmtgcorp Launch the truth. Fi, financial service and expansion to Fintech
The company plans to invest up to $ 250 million in focus on SMA, ETFS, and Crypto. pic.twitter.com/xupoivthmr
-cryptosrus (@cryptOSR_US) January 29, 2025
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TMTG stocks have increased by 15 %
The announcement sent TMTG shares that rise 15 % in pre -market transactions.
TMTG, which owns a true social platform, is a social media network that started as an alternative to the mainstream platform, and is a financial technology brand that aims to provide investment products and services. I revealed the plan to launch.
Commenting on development, TMTG's CEO and chairman Devin Nunes said, “Truth.fi is a natural expansion of the true social movement.”
“We have added a ultra -high -speed television streaming service to create a free speech social media platform. We are currently shifting to investment products and distributed finances,” said Nunes. “Developing the first investment vehicle in the United States is a robust ecosystem that can protect yourself from the threats that have always existed by American patriotes that have been committed by large -scale engineers and have always woke up. This is another step towards our goals. “
The company is planning Truth.fi and will launch multiple investment products through 2025.
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Movement to create another controversy
This is not the first controversy that Trump has pulled in the last few days, or is not ethically suspicious. A few days ago he I launched a Trump, a usem coin without utility. As expected, it rose rapidly, leading more than $ 18 billion within a few days.
Twelve hours before the inauguration ceremony, the next First Lady Melania Trump joined the Memo -in -band wagon and launched a token Melania.
Sequence of the past several events Every day is unprecedented. This is the first time since Bitcoin was launched, where the president or presidential election of all nations was on or in crisis during the inauguration or take over.
The coins of Trump and Melania's Melania are the market mover, causing Solana, Ethereum and Bitcoin rally.
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TMTG, a post -trump media company, has announced Truth.fi's launch of Crypto.