• Trump Media and Technology Group (TMTG) is launching a fintech arm called Truth.Fi, which may invest in Bitcoin and other crypto-related securities using $250 million custodied by Charles Schwab.
  • Regular Charles Schwab customers cannot buy or sell individual cryptocurrencies, only exchange-traded products, ETFs, mutual funds, and futures contracts.

Trump Media and Technology Group (TMTG), the company behind President Donald Trump’s social media platform Truth Social, has announced its latest expansion into financial services with a fintech brand called Truth.Fi.

The company revealed Wednesday that Truth.Fi could invest in Bitcoin and other crypto-related securities, leveraging $250 million in cash that will be custodied by financial giant Charles Schwab. However, Schwab's regular customers do not have the same privilege, as they can only access crypto through exchange-traded products, ETFs, mutual funds, and futures contracts—without direct cryptocurrency purchases.

The move aligns with Trump’s broader pro-crypto stance. His campaign has actively courted the crypto industry, promising reduced regulation and even suggesting Bitcoin be held in a strategic reserve. Before taking office, his team launched a Solana-based meme coin, which has since become one of the largest cryptocurrencies by market cap.

Despite this, not all crypto advocates are on board. Last week, Bitcoin purists criticized Trump's first executive order on digital assets, as it included references to a broad category of "digital assets" rather than Bitcoin specifically.

Meanwhile, TMTG Chairman and CEO Devin Nunes framed the company’s fintech expansion as a move to provide alternative financial solutions to counter what he described as the threats posed by major tech corporations.

"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," Nunes said in the announcement.

Trump’s media arm continues its mission of challenging "big tech’s assault on free speech" by expanding its reach across both digital media and financial services.

Edited by Harshajit Sarmah