Trump Media and Technology Group (DJT), the parent company of Truth Social, is diving into the crypto world with the launch of Truth.Fi, a financial services platform focused on cryptocurrencies and customized ETFs. According to a press release, the platform will also manage separate accounts, with major asset manager Charles Schwab advising on strategy. Devin Nunes, CEO of Trump Media, called the move a “natural expansion,” emphasizing the company’s goal of providing investment products to protect users from “Big Tech and woke corporations.”
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DJT Stock Surges on Investor Enthusiasm
Investors cheered the announcement, sending DJT shares up 10.4% on Wednesday. Pre-market trading saw a spike as high as 17%, reflecting market excitement over the company’s $250 million commitment to crypto and ETF investments. According to CoinDesk, this is the latest in a series of Trump-affiliated ventures into digital assets.
Industry Shows Mixed Reactions
Sid Powell, CEO of Maple, noted this move brings crypto further into the mainstream, a positive for long-term growth. However, Patrick Gruhn, founder of Perpetuals.com, cautioned that high-profile endorsements like this also carry risks, including regulatory scrutiny and transparency concerns. Still, the market excitement shows us crypto’s growing relevance in both politics and finance.
Is DJT Stock a Good Buy Right Now?
DJT stock continues to have no analysts taking a position one way or the other, leaving investors to rely on recent trading activity for signals. Over the last five days, trading has been busy but hasn’t resulted in significant movement. DJT shares have risen just 3.3% during this period, with a pattern of sharp drops followed by quick rallies.
