On January 29, the publicly listed company Trump Media & Technology Group (TMTG) officially announced the launch of its financial services and fintech brand, Truth.Fi, marking its entry into the financial services and fintech sectors. Following this news, Trump Media & Technology Group's stock DJT rose by 15%.

Trump Media & Technology Group plans to invest $250 million of its over $700 million cash reserve through Charles Schwab. In addition to investing in traditional investment tools, it will also invest in SMAs (separately managed accounts), ETFs, Bitcoin, and crypto-related securities.

According to CNN, Delaney Marsco, the ethics director at the Campaign Legal Center, has expressed concerns about Trump Media Group's foray into finance and crypto, as Trump is overseeing federal regulation of these industries.

Delaney Marsco stated that these business initiatives create more opportunities for conflicts of interest: the various agencies regulating the financial industry will now be controlled by individuals personally appointed by President Trump, who will face the dilemma of how to handle matters affecting their boss's financial interests.

Richard Painter, a former senior ethics lawyer in the George W. Bush administration, stated that transferring shares to a trust does not alleviate conflicts of interest. The U.S. president is becoming increasingly involved in the cryptocurrency business—while citing executive orders related to cryptocurrency, Painter (now a law professor at the University of Minnesota) said in an interview.

In addition to concerns about conflicts of interest, Painter is also worried that Trump's investments could further inflate asset prices in the cryptocurrency market, posing systemic risks to the broader economy.

Painter said, "Our president has such vast executive power, and he himself is investing in assets; this situation is very dangerous for our economy."

Devin Nunes, CEO and Chairman of Trump Media & Technology Group, stated, "We look forward to launching Truth.Fi, introducing TMTG's investment tools, and unleashing synergies. Truth.Fi is a natural extension of the Truth Social movement. We initially created a free speech social media platform, then added ultra-high-speed TV streaming services, and now we are entering the investment products and decentralized finance space."

Truth.Fi products and services are expected to launch in 2025, pending regulatory approval and funding support. This expansion will enhance TMTG's existing product portfolio, which includes the Truth Social platform and Truth+ streaming service.

Last week, Trump faced criticism for launching the multi-billion dollar meme coin Trump on the eve of his inauguration. According to The Guardian, Trump Media & Technology Group has been working to build a social network to rival those of Meta's Facebook and Instagram or Elon Musk's X.

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