Trump Media Group Expands Into Crypto With Truth.Fi

According to Cointelegraph, the Trump Media and Technology Group (TMTG), partially owned by U.S. President Donald Trump, has announced its expansion into financial services and cryptocurrencies with a new venture named Truth.Fi. The announcement, made on January 29, outlines plans to offer separately managed accounts in collaboration with Charles Schwab, along with customized exchange-traded funds and cryptocurrency services. TMTG CEO and White House official Devin Nunes emphasized that Truth.Fi aims to protect Americans from being debanked, presenting itself as a free speech alternative to existing Big Tech platforms. Nunes, who also chairs the President’s Intelligence Advisory Board, highlighted the platform's potential to reshape digital asset regulation under the Trump administration. This move follows months of speculation about TMTG's entry into the crypto space. In September 2024, President Trump launched World Liberty Financial, a decentralized finance (DeFi) platform, which received mixed reactions from market participants regarding its timing and sustainability. According to Arkham Intelligence, World Liberty Financial has amassed over $394 million in cryptocurrencies, including more than 62,000 Ether (ETH), 646 Wrapped Bitcoin (WBTC), and over 19,000 Lido Staked Ether (stETH). On January 20, the day of President Trump's inauguration, the platform invested over $100 million in cryptocurrencies, increasing its holdings in ETH and WBTC. World Liberty Financial has also secured Ethereum Name Service (ENS) domain names related to the Trump family, such as barrontrump.eth, erictrump.eth, trumpcoin.eth, and worldliberty.eth. This has led to speculation about the Trump family's future endeavors in the digital asset market. Ethereum co-founder Joe Lubin noted that the acquisition of ETH, World Liberty Financial's largest holding by dollar value, and the ENS names suggest the Trump family might develop businesses on the Ethereum network. However, no official announcement has been made regarding new business ventures or additional protocols on Ethereum by the Trump family at this time.