Trump is melding the worlds of upstart crypto and old-school finance

Trump is melding the worlds of upstart crypto and old-school finance

Trump Media Expands Into Crypto as Wall Street Embraces Digital Assets

In a bold move bridging traditional finance and cryptocurrency, Trump Media & Technology Group (DJT) has announced plans to enter financial services with the launch of Truth.Fi, a new investment arm. The company will allocate up to $250 million into cryptocurrencies and other digital assets, with Charles Schwab (SCHW) serving as the custodian—a significant endorsement from a major Wall Street firm.

The expansion aligns with President Donald Trump’s push for more favorable crypto regulations, as his administration continues to reshape the industry’s regulatory landscape. One of the biggest changes came with the SEC’s elimination of Staff Accounting Bulletin 121 (SAB 121)—a move that removes barriers for banks and financial institutions to hold digital assets for their clients. The previous rule had forced institutions to classify crypto holdings as liabilities, discouraging large-scale adoption.

"Bye, bye SAB 121! It's not been fun," SEC Commissioner Hester Peirce said in a celebratory post on X, signaling a shift toward a more crypto-friendly financial system.

Wall Street analysts believe these regulatory changes will pave the way for major banking giants to enter the crypto space, further legitimizing digital assets as a mainstream investment. According to Jeffrey Neuburger, head of the blockchain group at law firm Proskauer, these moves will integrate crypto into financial markets much like traditional securities and commodities.

With Trump’s backing, crypto is poised to gain wider acceptance among institutional investors, potentially accelerating adoption on a global scale.