Trump Media’s shares have a sharp increase on Wednesday following the company’s announcement for expansion to financial services, including of cryptocurrencies and ETFS (negotiable mutual funds)

The shares of the parent company Truth Social, which is negotiated under the title DJT, jumped more than 15% in preliminary transactions.

Trump Media & Technology Group is an American multimedia and technology company based in Sarasota, Florida. It manages the Truth Social Social Platform and belongs to a majority of US President Donald Trump.

The Department of Financial Services will be known as Truth.fi and will have up to $ 250 million according to the press release.

‘Truth.fi It is a natural expansion of the Truth Social Movement. We started by creating a free speech social networking platform, added an extremely fast streaming service and now we are proceeding with investment products and decentralized funding. ” CEO and TMTG President Devin Nuni said in the press release.

“The development of American First Investment Schemes is another step towards our goal of creating a strong ecosystem through which American patriots can be protected from the ubiquitous threat of cancellation, censorship, and privacy violations committed by Big Tech and Woke companies. “