Trump Media and Technology Group Corp. launched a financial-services and fintech brand dubbed Truth.Fi, with a focus on crypto and customized exchange-traded funds.
The new offering will develop separately managed accounts, ETFs and Bitcoin in partnership with Charles Schwab Corp., which will “broadly advise” on investments and strategy, Trump Media said in a statement Wednesday.
Trump Media said it will also invest as much as $250 million that will be kept in custody by Schwab. That amount is about a third of Trump Media’s cash pile, but represents a tiny fraction of the trillions of dollars that are managed by traditional financial firms.
“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,” Trump Media Chief Executive Officer Devin Nunes said in the statement.
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