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crypto.news 2025-01-29 15:23:27

Trump media to allocate $250m to crypto, fintech expansion

President Donald Trump’s media firm has launched Truth.Fi to expand into financial services and cryptocurrency investments like Bitcoin. Billionaire entrepreneur and two-time U.S. president Donald Trump has furthered his crypto ambitions by launching Truth.Fi through his media company, Trump Media & Technology Group. A Jan. 29 press release said Truth.Fi will allocate up to $250 million of the firm’s $700 million cash reserves to diversify its balance sheet, as approved by the board. According to the statement, the capital will target a swathe of investment options, including “Bitcoin and similar cryptocurrencies or crypto-related securities,” separately managed accounts or SMAs, and exchange-traded funds, AKA ETFs. You might also like: Day after Trump calls DeepSeek as positive, US officials u-turn and classify it as IP theft TMTG’s foray into financial services followed a trademark application filed last November. Trump’s company was reportedly considering the acquisition of Bakkt, a licensed crypto service provider. The U.S. president has also expressed support for the decentralized finance protocol World Liberty Financial. Through Trump Media, which operates Truth Social, WLFI, two official Solana-based meme coins, and millions in digital assets, Trump is the first U.S. president to show ties to the cryptocurrency industry. Crypto advocates believe his involvement could encourage a more favorable regulatory environment for digital asset businesses. Meanwhile, skeptics like Senator Elizabeth Warren have scrutinized Trump’s picks, including Howard Lutnick, over their ties to the crypto industry. Read more: Elizabeth Warren presses Trump’s commerce pick Lutnick over Tether ties

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