Trump Media Launches Truth.Fi With $250M Crypto Investment

Trump Media Launches Truth.Fi With $250M Crypto Investment

Trump Media & Technology Group (TMTG) is expanding into financial services with the launch of Truth.Fi, a fintech and investment platform, per WSJ. The company’s board has approved a $250 million investment into Truth.Fi, which will include ETFs, Bitcoin, and other cryptocurrencies.

Charles Schwab will oversee custody and investment strategy, while Yorkville Advisors will act as a registered investment adviser for certain financial products. TMTG CEO Devin Nunes called the move a “natural expansion,” according to Fortune.

TMTG stock surged 10% on Wednesday following the announcement, reflecting strong investor interest. The company said Truth.Fi would focus on investments in manufacturing and energy companies, aligning with its broader push to support what it calls the "Patriot Economy."

The expansion comes amid Trump’s criticism of major banks for allegedly restricting services to conservatives. Truth.Fi is expected to roll out in 2025, marking another step in TMTG’s broader effort to create an independent financial and technology platform.

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Czech Central Bank Considers $7 Billion Bitcoin Investment

Czech National Bank Governor Aleš Michl is set to propose allocating up to $7 billion of the country’s reserves into Bitcoin. If approved, the Czech National Bank (CNB) would become the first Western central bank to hold BTC as part of its foreign exchange reserves. In December, its parliament unanimously exempted Bitcoin held over three years from capital gains tax.

Michl cited increasing institutional adoption and President Trump’s pro-crypto stance as key factors behind the proposal. “For the diversification of our assets, bitcoin seems good,” Michl told the Financial Times. The central bank’s board will review the proposal on Thursday, and if passed, Bitcoin could be added to its reserves alongside traditional assets.

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Cardano Completes the Plomin Hard Fork

Cardano is looking to implement full decentralized governance with the activation of the Plomin hard fork, granting ADA holders direct voting power on protocol upgrades and treasury decisions. The network upgrade follows a successful vote, where 85% of stake pools and 67% of the Interim Constitutional Committee (ICC) approved the transition.

The hard fork implements governance changes outlined in CIP-1694, including treasury withdrawals and decentralized representative (DRep) voting. “Tonight, Cardano evolves,” the Cardano Foundation stated on X, confirming the network’s shift to decentralized decision-making. ADA’s price has declined over 5% in the past day, reflecting broader market sentiment.

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Cboe BZX Resubmits Solana ETF Filings in the US

The Cboe BZX Exchange has refiled applications for Solana exchange-traded funds (ETFs) on behalf of Bitwise, VanEck, 21Shares, and Canary Capital. These applications were previously rejected by the SEC but have been resubmitted following a shift in regulatory leadership under the new crypto-friendly SEC chair, Mark Uyeda.

If approved, Solana would become the third cryptocurrency to have a spot ETF in the US, following Bitcoin and Ether. Bloomberg ETF analyst Eric Balchunas described JPMorgan’s forecast that a Solana ETF could attract up to $6 billion in its first year as a “reasonable guess.” The refilings come as fund issuers test the boundaries of SEC approval under the Trump administration.

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Data of the Day

The 2024 Gemini Global State of Crypto report reveals steady crypto ownership across countries like the US, UK, France, and Singapore, with 65% of owners holding digital assets for long-term growth. Regulatory uncertainty remains a significant barrier to adoption, with nearly 40% of non-owners in the US and UK citing it as a concern.

Despite market downturns, over 70% of past crypto owners are likely to re-enter the market in the near future. The rise of Bitcoin ETFs is also highlighted in the report, signaling growing institutional and retail interest. The majority of crypto owners are comfortable incorporating digital assets into their investment portfolios, with 57% willing to allocate 5% or more.

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More Breaking News

• ai16z rebrands to ElizaOS to align with the Eliza agent framework and avoid confusion with venture capital giant a16z.
• Movement Labs founder denies insider trading allegations after Trump's World Liberty Financial purchased MOVE tokens shortly before a mainnet announcement.
• Hong Kong SFC grants first crypto licenses of 2025, bringing the total number of approved exchanges to seven since mid-2024.
• Sei Foundation launches a $65M DeSci venture fund, Sapien Capital, to support decentralized science startups building on its Layer 1 blockchain.
• Bitwise files with the SEC to launch a Dogecoin ETF, joining other asset managers in seeking approval for a memecoin investment product.
• Robinhood teases Bitcoin, oil, and gold futures trading, expanding its investment offerings with an upcoming intuitive trading ladder feature.
• Coinbase revamps its advisory board, adding Trump campaign co-manager, as it strengthens political and financial influence under the new administration.
• Former SEC Chair Gary Gensler returns to MIT to focus on AI, finance, and financial technology after stepping down following Trump’s inauguration.

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