Trump Media Group To Invest In Bitcoin, Financial Services

Trump Media & Technology Group (NASDAQ:DJT), the company behind Truth Social, is expanding into financial services with the launch of Truth.Fi, a fintech arm that aims to develop investment vehicles with crypto ambitions.

What Happened: The company’s board has approved a financial strategy that includes allocating up to $250 million of its $700 million cash reserves into various financial instruments, including customized exchange-traded funds (ETFs), separately managed accounts (SMAs), and Bitcoin (CRYPTO: BTC) investments.

TMTG, led by CEO Devin Nunes, is positioning Truth.Fi as a financial extension of its media ecosystem, which …

Full story available on Benzinga.com