The media targets the encryption investments with pressure on financial services

Open the newsletter to watch the White House for free

Your guide to what the American elections mean 2024 for Washington and the world

Social Social, US President Donald Trump, is expanding beyond social media with plans to launch a financial services company that will invest up to $ 250 million in cryptocurrencies and other assets.

Trump told the media and technology, in which the president is one of the major shareholders, on Wednesday that she would make the truth. TMTG arrows jumped by 10 percent in early trading in New York.

The company added that the truth.

This comes after the president defended the encryption industry during his campaign and since he became president. Besides his sons, Trump created an encryption platform called World Liberty Financial last year, and earlier this month he and First Lady Melania Trump alike. I launched memecoins A type of cryptocurrency with no basic business model or cash flow.

TMTG runs the real social media platform, in addition to the television broadcast service without feasibility Trick Bakkt, the location of the cryptocurrency trading, last November. The CEO is Devin Nunes, Chairman of the Intelligence Advisory Council for the President and former Republican Congress.

Nunes said the truth. Fi is “the natural expansion of the social movement of the truth”. He added: “American patriots can protect themselves from the current threat of cancellation, oversight, violations and privacy committed by Big Tech and Woke Corporss.”

Charles Schwab, mediation, assets and “widespread advice” will indicate investment plans in fact. The broker is not currently providing direct trading in Bitcoin or other similar currencies, but he indicated that he will move to Crypto if the rules are allowed.

Last week, the Securities and Stock Exchange Committee canceled an accounting base in order to facilitate traditional banks to retain the assets of encryption on behalf of their customers. TMTG said it has more than $ 700 million in cash reserves at the end of 2024.

“As a political issue, we do not comment on any current or previous activities of customers,” Schwab said in a statement to the Financial Times.

Samantha Shawab, the granddaughter of the founder of the billionaire Charles Schwab, Deputy Chief of Staff at the US Treasury earlier this month.

The TMTG announcement came one day after Elon Musk’s announcement of a partnership with Visa to launch a social media services platform, which it said will be called X Money account.

X plans to launch a paid platform to a counter -backed by visa later this year.

Also on Wednesday, Chris Laccoita, co -director of Trump’s presidential giving, was appointed to the World Coinbase, which confirms more link between digital assets and Trump’s loyalists.