President Donald Trump’s Media and Technology Group (TMTG) announces a partnership with financial service giant Charles Schwab to further venture into the world of decentralized finances (Defi).
In a new one press releaseTMTG -The company behind social media platform Truth Social and the video streaming service truth+ -says it cooperates with Charles Schwab to launch Truth.fi, a fintech company with crypto -services.
As a means of diversifying the company’s reserves, the TMTG board has approved an investment of $ 250 million to be stored by Charles Schwab, who could go to investment vehicles, listed funds (ETFs), separately managed accounts (SMAs ), as well as Bitcoin (BTC) and other digital assets, according to the press release.
As mentioned by TMGT Chief Executive and chairman David Nunez,
“Truth.fi is a natural expansion of the social movement of truth. We started creating a free speech platform on social media, added an ultrasnelle TV streaming service and now we are moving to investment products and decentralized finances.
The development of American first investment vehicles is a new step towards our goal to create a robust ecosystem so that American patriots can protect themselves against the always present threat, censorship, debt and privacy violations committed by Big Tech … “
Last year Trump announced the launch of his own Defi network – World Liberty Financial (WLFI) – as a means to help those who have been dissected by banks.
Last week it turned out that WLFI has become a top 0.1% holder of Stusted Ethereum (Steth), because the company is on the leading Altcoin.
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