Trump Media & Technology Group (TMTG) announced its expanding into financial services with the launch of Truth.Fi, a new investment brand focused on applying "America-first" principles to investment products and decentralized finance.
Company CEO Devin Nunes described the move as a step toward protecting investors from "Big Tech" censorship and "woke" corporate policies.
"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," Nunes said.
Nunes said Truth.Fi is a "natural expansion of the Truth Social movement" and is focused on "unlocking synergies."
The company plans to invest up to $250 million, with funds managed by Charles Schwab and Yorkville Advisors, targeting American growth, manufacturing, and energy sectors.
Truth.Fi will offer individuals customized investment funds including exchange-traded funds (ETFs) and cryptocurrency-related assets.
Trump Media includes a social media platform, Truth Social, and a TV streaming platform.
Trump Media was established by president-elect Donald Trump, after his presidential win he transferred all of his shares into a revocable trust controlled by his son, Donald Trump, Jr., according to Security and Exchange Commission filings.
The rollout of the new venture is expected this year, pending regulatory approvals.
Trump Media's stock reacted positively to the news and was up more than 6% on Wednesday.
