Trump Media Enters Crypto and Finance with Truth.Fi, Fueling Ethics Concerns Over Presidential Conflicts

Trump Media & Technology Group (TMTG), the parent company of Truth Social, unveiled plans Wednesday to expand into fiscal services, including implicit investments in Bitcoin and cryptocurrencies. Shares of TMTG (DJT) jumped 8 following the advertisement.

The company revealed its new fintech action, Truth. Fi, which will offer investment vehicles targeting American manufacturing, energy, and what it calls the “ Patriot Economy. ” The move, prefigured by a November trademark form, includes a cooperation with Charles Schwab to develop customized managed finances. CEO Devin Nunes emphasized the company’s elaboration from social media to streaming and now decentralized finance, stating, “ We’re erecting a comprehensive ecosystem for free speech and fiscal independence. ”

still, the expansion has reignited ethics enterprises. Critics argue that Donald Trump’s binary part as chairman and devisee of a trust holding his TMTG stake creates conflicts, as his administration oversees fiscal and crypto regulations. The enterprises followed Trump’s controversial launch of meme coins with First Lady Melania Trump days before his term began, which drew counterreaction from ethics trols.

Delaney Marsco of the Crusade Legal Center advised, “ Agencies regulating finance will now answer to Trump-appointed officers, who may face opinions impacting their master’s fiscal interests. ” Richard Painter, former White House ethics counsel, added that Trump’s crypto investments could inflate request bubbles, posing systemic profitable pitfalls.

TMTG verified plans to diversify its cash reserves into crypto, ETFs, and affiliated securities, pending nonsupervisory blessings. The company aims to roll out Truth.Fi services latterly this time. Despite transferring his shares to a revocable trust managed by Donald Trump Jr., ethics experts assert the arrangement fails to address conflicts.

As Trump Media gambles deeper into finance, the crossroad of presidential power and private business continues to spark debate over responsibility and profitable stability.