.jpg "Ông Trump sẽ sa thải hơn 1.000 viên chức")
.jpg "Real estate market in the south of Hai Duong city is bustling")
.jpg "Extremely dangerous forest fire risk in Kinh Mon, Chi Linh")
-ac017d3d3ce25d3405471795d6bb26f0.jpg "Gia Loc needs over 10 billion VND to invest in renovating and expanding landfills.")
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Trump Media and Technology Group announced that they will expand into financial services and can buy Bitcoin and many other cryptocurrencies.
On January 29, Trump Media announced plans to launch a fintech brand called Truth.Fi, introducing investment tools focused on growth, manufacturing, and the U.S. energy sector. They also said the board of directors had approved a plan to diversify into ETFs, Bitcoin, cryptocurrencies in general, and crypto-related securities.
"We created a free speech social media platform (Truth Social), then a super-fast TV service, and now we're moving into investment products and decentralized finance," said Devin Nunes, CEO of Trump Media. They will partner with financial services company Charles Schwab (USA) to develop asset management funds.
US President Donald Trump owns a large stake in Trump Media. Days before taking office, President Trump and First Lady Melania Trump both announced meme coins TRUMP and MELANIA. Trump Media's latest move further raises conflict of interest concerns.
"Financial regulators are now in the hands of presidential appointees. They face the question of how to address the financial interests of the White House owner," Delaney Marsco, director of ethics at the Campaign Legal Center, said onCNN.
Last month, Mr. Trump announced that he would transfer his controlling stake in Trump Media to a trust managed by his son, Donald Trump Jr. This month, the Trump Organization also announced that Mr. Trump would transfer control of his business to his children after taking office. His business empire is now worth billions of dollars, operating in the fields of real estate, hotels, golf courses, and media. He made a similar move during his first term.
Still, Richard Painter, a lawyer for former President George W. Bush, said transferring shares to a trust would not reduce conflicts of interest. “The president is getting more and more involved in the cryptocurrency space. He’s going to issue executive orders on it,” Painter said. He also worries that Mr. Trump’s investments will drive up the price of digital assets, posing a systemic risk to the economy.
Trump Media confirmed that Truth.Fi’s products and services will be launched later this year, “subject to regulatory approval.” The news sent the company’s shares up nearly 7% in trading on January 29.
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