Trump Media Waves after expansion to financial services including crypto and ETFs

Trump Media Extended to financial services, including investment vehicles, the company announced on Wednesday.

Shares in truth’s social parent company, which acts under Ticker -DJT, jumped 6.8% on Wednesday. President Donald Trump indirectly owns 114,750,000 shares in the company held in a recalled trust.

The Department of Financial Services will be known as Truth.fi and it will be started with up to $ 250 million from the company that will be worsened by brokerage company Charles SchwabAccording to a news message. This money will be allocated to customized stock -traded funds and cryptocurrencies, including investment vehicles.

The company said it expects to launch products and services, including its own investment vehicles, later in the year.

“Truth.Fi is a natural expansion of the social movement of truth. We began by creating a free-speech-social media platform, added an ultra-fast TV streaming service, and now we are moving into investment products and decentralized funding,” Trump Media CEO and President Devin Nunes said in release.

“Development of US first investment vehicles is another step towards our goal of creating a robust ecosystem through which US patriots can protect themselves from the ever -present threat of cancellation, censorship, degradation and violation Nunes, a former California congressman.

The release did not specify what types of investment vehicles truth.Fi would offer, but said Schwab would “largely advise” the company’s investment and strategy. The products would focus on “American growth, manufacturing and energy companies as well as investments that strengthen the patriot economy”, according to release.

Samantha Schwab, a grandson of the name book’s founder of Charles Schwab, recently became Deputy Staff Head of the American Ministry of Finance.

The message comes after complaints from Republicans that banks have dealt with some conservatives unfairly. During a distant performance last week at the World Economic Forum in Davos, Switzerland, Trump complained to Bank of America Managing Director Brian Moynihan that the company locked out and debanked Conservatives.

“I hope you start opening your bank to Conservatives because many conservatives complain that banks do not allow them to do business in the bank and it included a place called Bank of America,” Trump said.

The president also took over Jamie Dimon, CEO of JPMorgan Chasethe largest US bank after assets.

“You and Jamie and everyone, I hope you will open your banks to conservatives because what you’re doing is wrong,” Trump said.

The comments continued a simmering feud between Republicans and the country’s largest banks, with a flash point that came last year when a group of state attorneys filed a complaint that claimed the institutions discriminated against customers based on religious and political attachments. Officials at the banks have denied wrongdoing.

Complaints about de-banking are also common among the crypto community, which was in line with Trump during his presidential campaign.

Truth.Fi comes on the heels of Trump Memecoin, launched shortly before the inauguration and resulted in increases in billions of billions of dollars for the Trump organization and its affiliated companies.

The new Financial Services company could end up being a competitor to Elon Musk’s X, who announced an appointment with Visa on Tuesday as part of its push to expand beyond social media. Musk is a close adviser to President Trump.