Trump invests in Bitcoin

On January 29, the US listed company Trump Media Technology Group (TMTG) officially announced the launch of Truth.Fi, a financial service and fintech brand. Entering the field of financial services and fintech. Affected by this news, Trump Media Technology Group's stock DJT rose 15%.

Trump Media Technology Group plans to invest more than $ 250 million in more than $ 700 million in cash reserves through Jiaxin Wealth Management. In addition to investing in traditional investment tools, it will also invest in SMA (separate management account), ETF, Bitcoin and class cryptocurrencies or encryption -related securities.

According to the "CNN" report, the moral director of the law center Delaney Marsco is now concerned about the Trump Media Group's entry into the financial and encrypted field, because Trump is chairing the federal government's supervision of these industries for these industries Essence

Draini Masco said that these commercial measures have created more opportunities for conflict of interests: various institutions that regulate the financial industry will now be controlled by President Trump himself. These people will face how to deal with their bosses Question.

Richard Painter, a senior moral lawyer of the Bush administration, said Trump's transfer of shares to the trust did not alleviate the conflict of interest. The US President is getting farther and farther in the cryptocurrency business -and he is quoting administrative orders for cryptocurrencies, Painter (currently at the University of Minnesota at Law Professor) in an interview.

In addition to the conflict of interest, Painter is also worried that Trump's investment may further increase the asset prices of the cryptocurrency market, thereby constituteing systemic risks to a broader economic risk.

Painter said that our president has such great administrative power, and he is also investing in assets, which is very dangerous for our economy.

Devin Nunes, chief executive and chairman of Trump Media Technology Group, said we were looking forward to launching Truth.Fi, launching TMTG investment tools, and release of synergy. Truth.Fi was the Truth Social movement. Natural extension. We first created a social media platform with freedom of speech, and then added ultra -high -speed TV streaming services. Now we have entered the field of investment products and decentralized financial fields.

Truth.Fi products and services are expected to be launched in 2025, but they need to be approved and supported by regulatory authorities. This expansion will enhance the existing product portfolio of TMTG, including the Truth Social platform and Truth+ streaming media services.

Last week, Trump launched a billions of dollars worth of MEME currency Trump on the eve of his inauguration, which has faced criticism. According to the British "Guardian", Trump Media Technology Group has been working hard to build a social network to be close to the X of Facebook and Instagram by Meta or X.