Trump Media and Technology Group, or TMTG, is expanding into financial services with the launch of Truth.Fi.
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00:00Trump Media and Technology Group, or TMTG, is expanding into financial services with the launch
00:06of Truth.Fi, which will focus on investment vehicles like customized exchange-traded funds
00:12and cryptocurrencies. Shares of TMTG, the parent company of Truth Social, saw more than 10% jump
00:18following the announcement, with Donald Trump indirectly owning more than 100 million shares
00:24through a revocable trust. The financial division will start with up to $250 million
00:29in funds, held with Charles Schwab, and TMTG plans to launch its products and services
00:35later this year. CEO Devin Nunes described Truth.Fi as a natural extension of the Truth
00:41Social movement, aiming to provide investment options that protect Americans from censorship
00:47and other big tech challenges.