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After losing the elections, Trump created his own social media network in response to being isolated from mainstream platforms. His social media platform, Truth Social, and the video streaming service Truth+ are operated by Trump Media and Technology Group Corp, which has achieved significant growth in this arena. Now, they are moving forward with even more ambitious plans.
Trump and Cryptocurrencies
As of December 31, 2024, the company holds over $700 million in cash and cash equivalents. The board has announced the launch of the FinTech brand TruthFi, with an investment of up to $250 million to be custodied by Charles Schwab. This money will be allocated to cryptocurrencies and securities related to cryptocurrencies alongside exchange-traded funds.
Devin Nunes, CEO and Chairman of TMTG, stated;
“We look forward to launching TruthFi, promoting TMTG’s investment vehicles, and realizing synergies. TruthFi is a natural extension of the Truth Social movement. We started by creating a social media platform that ensures freedom of speech, added an ultra-fast TV broadcasting service, and are now transitioning to investment products and decentralized finance. Developing American First investment tools is another step toward creating a robust ecosystem that protects American patriots from threats of cancellation, censorship, debanking, and privacy violations by Big Tech and woke corporations.”
