Trump Media Expands into Financial Services with Truth.Fi

WASHINGTON, D.C. — Trump Media & Technology Group, the parent company of Truth Social, announced Wednesday its expansion into financial services, including investment vehicles and cryptocurrencies. The move sent shares of the company, trading under the ticker DJT, up 6.8%.

The new financial services division, dubbed Truth.Fi, will launch with up to $250 million in funding, custodied with brokerage firm Charles Schwab. The funds will be allocated to customized exchange-traded funds (ETFs), cryptocurrencies, and other investment vehicles, according to a company release. Products and services are expected to launch 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,” said Devin Nunes, Trump Media CEO and chairman, in the release. Nunes, a former California congressman, emphasized the company’s focus on “American First” investment vehicles to counter perceived threats of “cancellation, censorship, debanking, and privacy violations.”

The announcement follows complaints from Republicans, including former President Donald Trump, who accused major banks of unfairly treating conservative customers. During a recent appearance at the World Economic Forum in Davos, Switzerland, Trump criticized Bank of America CEO Brian Moynihan and JPMorgan Chase CEO Jamie Dimon, urging them to “open your banks to conservatives.”

Trump Media’s expansion into financial services also aligns with its broader strategy to diversify its offerings. The company plans to focus on investments in American growth, manufacturing, energy, and the “Patriot Economy,” according to the release. Charles Schwab will advise on the company’s investments and strategy.

Ethics experts have raised concerns about potential conflicts of interest, as Trump indirectly owns 114,750,000 shares of the company through a trust. “These business moves create even more opportunities for conflicts of interest,” said Delaney Marsco, director of ethics at the Campaign Legal Center. “The various agencies that regulate the financial industry will now be controlled by people appointed by President Trump himself.”

Richard Painter, former chief ethics lawyer for the George W. Bush administration, echoed these concerns, warning that Trump’s investments could inflate asset prices in crypto markets, posing systemic risks to the broader economy. “This is a situation that could be quite dangerous for our economy,” Painter said.

Trump Media expects to roll out Truth.Fi products and services later this year, pending regulatory approvals.