Truth Social Unveils Truth.Fi: New Financial Platform for Conservative Investors
Staff Editor Truth Social Launches Financial Services Division, Truth.Fi
In a bold move to expand its digital platform, Truth Social, led by former President Donald Trump, has announced the launch of its new financial services division, Truth.Fi. The initiative aims to offer a range of financial products, including exchange-traded funds (ETFs) and cryptocurrencies, to its user base.
The launch of Truth.Fi follows the recent introduction of the $Trump coin, which reportedly resulted in substantial paper gains for the former president. Truth Social is investing $250 million from its $700 million cash reserve to kickstart the financial services division, with a focus on what it calls the “Patriot Economy.”
Truth.Fi’s offerings will include customized separately managed accounts and ETFs, as well as bitcoin and other crypto-related securities. The platform has partnered with Schwab to advise on investments and strategy, targeting what it describes as “American patriots” who seek protection against perceived Big Tech and corporate censorship.
This development comes in the wake of President Trump’s criticism of Bank of America for allegedly de-banking conservatives, a claim the bank has firmly denied, stating that account closures are not based on political affiliations.
The financial commitment to Truth.Fi represents a significant portion of Truth Social’s cash reserves. The company plans to focus investments on American growth sectors, manufacturing, energy, and the broader Patriot Economy. Schwab’s role in the partnership includes developing separately managed accounts and providing guidance on investment strategies.
Market reaction to the announcement has been positive, with Truth Social shares rising by up to 13%. Schwab shares also saw a modest increase of about 1%. It’s worth noting that President Trump holds a significant indirect ownership stake in Truth Social shares.
As Truth Social ventures into the financial services sector, industry observers will be closely watching the performance and reception of Truth.Fi among its target audience.
