Trump Media Launches Fintech Brand With Bitcoin and Crypto Focus

President Donald Trump’s media empire is expanding into financial services and could soon buy Bitcoin and other cryptocurrencies.

Trump Media and Technology Group, which runs Trump’s social media platform, Truth Social, announced Wednesday that it would launch a financial services and fintech arm called Truth.Fi.

As part of a diversification strategy, Truth.Fi may buy “Bitcoin and similar cryptocurrencies or crypto-related securities” with $250 million cash that will be custodied by Charles Schwab, the announcement said.

It’s worth noting that the bank doesn’t allow its regular customers that kind of leniency.

Charles Schwab customers can dabble in crypto exchange-traded products, spot ETFs, mutual funds, and Bitcoin and Ethereum futures contracts—but “cannot currently buy or sell individual cryptocurrencies,” according to its terms.

At the time of writing, the Bitcoin price has slumped 1.6% and just fallen below $102,000, according to CoinGecko data. BTC has lost 2.5% since the same time last week.

TMTG CEO and Chairman Devin Nunes said in an announcement: “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.”

President Trump campaigned to help the crypto industry and slash regulation, claiming to stash Bitcoin away in a strategic reserve.

Before he was inaugurated as president, his team released a Solana-based meme coin that is now one of the biggest cryptocurrencies by market cap.

But last week, hardcore Bitcoiners bemoaned the President’s first crypto executive order. That’s because it mentioned the possibility of a crypto stockpile, but with “digital assets” in general and not just Bitcoin.

Trump’s media arm is promising to focused on ending “big tech’s s assault on free speech by opening up the internet and giving people their voices back,” according to its website.

Edited by Stacy Elliott.