Trump Media Launches FinTech Services Brand; Shares Jump 15%

On Wednesday, Truth Social parent Trump Media and Technology Group (NASDAQ: DJT) said its board of directors approved the launch of financial services and FinTech brand Truth.Fi, sending the firm’s shares up over 15% in premarket trading.

The company board has also authorized an investment of up to $250 million through Charles Schwab as it looks to diversify its cash holdings, which exceeded $700 million at the close of the previous year.

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The Sarasota, Florida-based company plans to allocate these funds into various investment options, including exchange-traded funds, separately managed accounts, Bitcoin, and other similar cryptocurrencies.

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Mark Glenn

Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions.

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