TRUTH SOCIAL PAREAL PARENT TRUMP Media and Technology Group stated that the Board of Directors had approved the financial service and the FinTech brand Truth.fi on Wednesday and sent more than 7 % of companies.
The company's Board of Directors has approved up to $ 25 billion through Charleschwab. This is trying to diversify more than $ 700 million in cash at the end of the previous year.
The company based in Sarasota, Florida, states that these funds will be assigned to various investment options, including exchange trade funds, individual managed accounts (SMA), bitcoin, and other cryptocurrencies. I did it.
Trump media's transition to the financial financing has increased the price of Bitcoin and other cryptocurrencies following the elections of Donald Trump's White House in November and some parent's elections to Congress.
During his campaign, Trump has pledged to establish the United States as a “global encryption capital.”
SMA is developed in cooperation with Charles Schwab and provides strategic advice on TMTG's Truth.fi investment and strategy.
The company said that the TRUTH.Fi product and services will be expanded in 2025 after the financial procurement level has been determined, and the necessary approval by the financial regulatory authorities has been established.
Trump media also challenged the streaming platform with the release of the truth+streaming last year.
In November, the company reported a loss of $ 19 million in the third quarter of legal and expenses related to television streaming transactions.
