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Trump Media to Allocate Part of $700M Fund to Bitcoin

Trump Media & Technology Group will invest $250 million in Bitcoin, ETFs, and other assets through its new Truth.Fi financial platform, targeting conservative investors and combating perceived Big Tech censorship.

Bitcoin

Trump Media & Technology Group Corp announced that it will be allocating up to $250 million, approximately 35.7% of its reserves, to Charles Schwab for custody.

The financial services division, Truth.Fi, will invest these funds in Bitcoin, customized exchange-traded funds (ETFs), cryptocurrencies, and other investment vehicles. As of December 31, 2024, TMTG held over $700 million in cash and cash equivalents.

Trump Media Devise Investment Expansion

The company said it expects to launch products and services, including its investment vehicles, later this year.

“Truth.Fi is a natural expansion of the Truth Social movement. We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we’re moving into investment products and decentralized finance,” TMTG CEO and Chairman Devin Nunes said in the release.

“Developing American First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations,” added Nunes.

The release did not specify what types of investment vehicles Truth.Fi plans to offer, but said Schwab would “broadly advise” the company’s investments and strategy. The products would focus on “American growth, manufacturing, and energy companies as well as investments that strengthen the Patriot Economy,” according to the release.

Trump Calls Out Financial Companies

Samantha Schwab recently became the deputy chief of staff at the U.S. Department of the Treasury. Notably, complaints about de-banking are also common in the crypto space, which aligned with Trump during his presidential campaign.

The announcement comes after complaints from Republicans that several banks have treated some conservatives unfairly. During a remote appearance last week at the World Economic Forum in Davos, Switzerland, Trump complained to Bank of America CEO Brian Moynihan that the firm was refusing to serve conservatives.

“I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America,” Trump said.

The president also took on Jamie Dimon, CEO at JPMorgan Chase, the largest U.S. bank by assets.

“You and Jamie and everybody, I hope you’re going to open your banks to conservatives because what you’re doing is wrong,” Trump said.

Sampson Gideon