Donald Trump has multiplied initiatives since his inauguration. The company managed on his behalf, Trump Media, has just announced a breakthrough in the fintech sector and investments in cryptocurrencies. What do we know about this new project?
Trump Media embarks on the fintech and cryptocurrencies
Trump Media, the company behind the social network Truth Social, announced on Wednesday that it had launched a new initiative. Called truth.fi, it is a Fintech platform. The initial endowment will amount to $ 250 million, invested in a collection of diversified assets.
Among these assets, ETFs as well as cryptocurrencies will be found including Bitcoin (BTC). The company must first spend a few regulatory steps and intends to offer its services in 2025. It will remain under the aegis of Trump Media & Technology Group.
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Trump Media is managed by Devin Nunes on behalf of Donald Trumpwhich is the main shareholder with 65 % of the shares. It entered the stock market in March 2024, with an initial valuation of $ 9.5 billion. She had brought back significant losses in the 3rd quarter of 2024, especially due to legal costs. In addition to the microblogging service offered, she had embarked on video streaming.
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Trump Media's action flies away
Following the announcement of the creation of Truth.fi, the action of Trump Media (DJT) has skyrocketed. She took 18 % in the space of an hour, taking up part of the field she had lost for a few days:
The course of Trump Media's action (DJT) jumped following the announcement
This initiative is In line with Donald Trump's positioning in favor of digital assets. Since his inauguration, he also seems to have multiplied financial initiatives. After the emission of a same, which he holds 80 % of the supply, he released a series of derivatives purchaseable with cryptocurrencies.
🌐 To learn more – perfumes, watches, sneakers … Donald Trump derivatives now buyable with Trump cryptocurrency
The arrival of Truth.fi, alongside the company World Liberty Financial, is therefore one more element in the Trump nebula, which has a variety of companies and now a cryptocurrency.
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Source: Reuters
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Journalist at Cryptoast since 2017, I have been passionate about the challenges of decentralization, privacy and regulation. I specialized in the economy and traditional finance by analyzing how the news in this sector influence that of cryptocurrencies, thus offering a unique and enlightened perspective to cryptoast readers.
Marine Debellor
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