Trump’s Crypto Ambitions

U.S. President Donald Trump’s ambitions in the world of crypto took another leap on Wednesday as his media company launched Truth.Fi, a fintech brand that may invest in bitcoin and other cryptocurrencies and crypto-related securities.

Trump Media and Technology Group’s board of directors has approved a financial services and technology strategy, according to a press release. “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.”

The investment capital will be directed towards traditional investment vehicles, separately managed accounts (SMAs), exchange-traded funds (ETFs), as well as bitcoin and similar cryptocurrencies or crypto-related securities. Trump owns over 50% of Trump Media and Technology Group, which operates the social media platform, Truth Social.

The company filed a trademark application back in November, mentioning services for “downloadable computer software for use as a digital wallet.”

Launching Truth.Fi follows Elon Musk’s social media partnership with Visa to help power X Money, a digital payments project. While X Money has not officially launched or indicated aspirations in crypto, both Musk and Trump are developing fintech ventures amid a bullish market for digital assets.

Leaning into Crypto

Trump positioned himself as a pro-crypto candidate during last year’s election, suggesting the U.S. could create a strategic bitcoin reserve. He has also backed the launch of the crypto project World Liberty Financial, which his team and family have promoted.

World Liberty Financial was initially looking to raise $300 million at a $1.5 billion valuation in an initial sale of tokens. Earlier this month, the project announced it had sold 20 billion tokens, or 20% of the 100 billion token supply, and that it would be opening up for the sale of an additional 5 billion tokens, or 5% of the supply.