Trump Media expand into financial services; shares up

Investing.com

01-29

Investing.com -- Trump Media&Technology Group (NASDAQ:DJT) (TMTG) announced Wednesday that it is expanding into financial services, including investment products.

Shares of the Truth Social parent company, which trades under the ticker DJT, surged more than 15% in premarket trading following the news.

The company said its board of directors has approved the launch of a new financial services and FinTech brand, Truth.Fi.

“To diversify the Company's cash and cash-equivalent reserves of over $700 million as of December 31, 2024, the board has approved the investment of up to $250 million to be custodied by Charles Schwab (NYSE:SCHW),” the press release states.

The company said these funds may be allocated across various assets, including separately managed accounts (SMAs), exchange-traded funds (ETFs), and cryptocurrency investments such as Bitcoin.

"We look forward to launching Truth.Fi, introducing TMTG's investment vehicles, and unlocking synergies," said Trump Media CEO and Chairman Devin Nunes.

"Truth.Fi is a natural expansion of the Truth Social movement. We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we're moving into investment products and decentralized finance," he added.

Trump Media said Truth.Fi is expected to launch in 2025 as agreements are finalized, funding is set, and any required regulatory approvals are obtained.

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We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we're moving into investment products and decentralized finance,\" he added. </p>\n<p>Trump Media said Truth.Fi is expected to launch in 2025 as agreements are finalized, funding is set, and any required regulatory approvals are obtained.</p>\n<p>Related Articles</p>\n<p>Trump Media expand into financial services; shares up</p>\n<p>Today's FOMC meeting to be a 'non-event,' T. Rowe Price economist predicts</p>\n<p>Moderna stock drops as Goldman Sachs cuts rating</p>\n</body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/trump-media-expand-financial-services-142557600.html\">Investing.com</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0266013472.USD","symbol_name":"AXA WF - Framlington Longevity Economy A Cap USD","start_time":0,"source_url":"https://finance.yahoo.com/news/trump-media-expand-financial-services-142557600.html","article_id":"2507340576","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2507340576","pubTimestamp":1738160757,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com -- Trump Media&Technology Group   announced Wednesday that it is expanding into financial services, including investment products.Shares of the Truth Social parent company, which trades under the ticker DJT, surged more than 15% in premarket trading following the news.The company said its board of directors has approved the launch of a new financial services and FinTech brand, Truth.Fi.“To diversify the Company's cash and cash-equivalent reserves of over $700 million as of December 31, 2024, the board has approved the investment of up to $250 million to be custodied by Charles Schwab ,” the press release states.The company said these funds may be allocated across various assets, including separately managed accounts , exchange-traded funds , and cryptocurrency investments such as Bitcoin.\"We look forward to launching Truth.Fi, introducing TMTG's investment vehicles, and unlocking synergies,\" said Trump Media CEO and Chairman Devin Nunes.\"Truth.Fi is a natural expansion of","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0266013472.USD":"AXA WF - 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We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now we're moving into investment products and decentralized finance,\" he added. \nTrump Media said Truth.Fi is expected to launch in 2025 as agreements are finalized, funding is set, and any required regulatory approvals are obtained.\nRelated Articles\nTrump Media expand into financial services; shares up\nToday's FOMC meeting to be a 'non-event,' T. Rowe Price economist predicts\nModerna stock drops as Goldman Sachs cuts rating","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}