Trump Media and Technology Group (DJT), the company that operates the social media site Truth Social, announcement On Wednesday, he launched a financial service platform focused on cryptography and negotiated funds on personalized exchanges.
The company’s board of directors has approved an investment of up to $ 250 million in the main asset manager Charles Schwab (SCHW). Funds can be allocated to separately managed accounts (SMAS), negotiated funds (ETF) and Bitcoin (BTC) and similar cryptocurrencies or similar cryptocurrency titles, according to a deposit to the Securities and Exchange Commission.
Charles Schwab will also largely advise investments and the strategy of truth.
“Truth.fi is a natural expansion of the social movement Truth,” said CEO and president of Trump Media, Devin Nunes. Now we are entering investment products and decentralized finances.
DJT shares are 10.4% higher Wednesday after the news.
Truth.fi is the last company of companies affiliated with Donald Trump in digital asset space. Trump and his family supported the decentralized funding protocol (DEFI) The world of financial freedom. Trump also launched an “official” same on Solana a few days before its inauguration of January 20, triggering a speculative frenzy among cryptographic traders and triggering several personalities from the cryptographic industry.