President Donald Trump’s listed company has accumulated so much money that it throws $ 250 million in a Schwab account to buy Crypto. Wall Street was so impressed by the title that the action joined $ 800 million after the morning announcement.
According to a press release from Trump Media, the company puts $ 250 million in a brokerage account Charles Schwab to buy various titles. These include “bitcoin and similar cryptocurrencies or crypto-related titles”.
The news also includes a planned launch of a new Crypto – Truth.fi website, currently just a domain name – which will be integrated into Trump’s social media application, Truth Social.
The higher level domain “.Fi” (TLD) – Official domain code of Finland – is a current agreement for many websites compatible with Metamask which allow visitors to exchange the crypto.
Because Trump and his children were vocal supporters of these websites and decentralized financing protocols (DEFI) which allow blockchain transactions, the news on social truth winning a DEFI integration seemed to explain the exuberant reaction partially.
A pinch of crypto to pump the stock
During the pre-commercial session this morning, DJT’s actions joined up to 17% above Tuesday’s fence. Who attributed a $ 800 million increase in market capitalization overnight.
The price of the DJT varies intraday in the middle of other market factors but remains significantly higher than yesterday.
Donald Trump and his family launched various crypto projects, including the NFT, even collections and a DEFI project. Two of the most recent token in the family, Trump and Melania are down 62% and 82% of their summits of all time last week.
Read more: Trump obtains 75% of world freedom income, but is not even an employee
“We are entering investment products and decentralized finances,” said Devin Nunes, CEO of Truth Media. “The development of the first American investment vehicles is another step towards our goal of creating a robust ecosystem through which American patriots can protect themselves,” he said.
Schwab is a popular brokerage house with more than 9 billions of dollars of assets under management. Yorkville advisers will be the registered investment advisor Decide which assets – Bitcoin or other – Trump Media will buy in his $ 250 million brokerage account.
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