Finance

Trump Media's Financial Services Venture Boosts DJT Stock

Trump Media & Technology Group (DJT) saw its stock open up to 12% higher on Wednesday after announcing plans to expand into financial services, including cryptocurrency funds and custom exchange-traded funds (ETFs).

In a press release, the company revealed it would invest up to $250 million in the launch of this new division, branded as Truth.Fi. This investment, which represents less than one-third of the company’s $700 million cash reserve, will be held under the custody of Charles Schwab. Schwab will also provide broad advisory support for investments and strategies. Trump Media, which operates the president’s social media platform Truth Social and the recently launched Truth+ video streaming service, has a market capitalization of about $7.2 billion.

According to the latest SEC filing from December 17, President Trump holds roughly a 53% stake in DJT, making his share valued at approximately $3.8 billion.

TECH

Microsoft and Meta Continue Major AI Investments Despite DeepSeek’s Low-Cost Model

Just days after Chinese startup DeepSeek made waves in the U.S. tech industry with its breakthrough low-cost AI computing, the CEOs of Microsoft and Meta defended their large-scale spending, arguing it’s essential for remaining competitive in the emerging field. DeepSeek’s rapid progress, with models it claims can rival or even surpass Western competitors at a fraction of the cost, raised questions about the U.S.'s leadership in AI. However, the executives emphasized that investing in massive computing networks is crucial to meet the increasing demands of businesses.

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CRYPTO

Bitcoin and Crypto Brace for Major Price Shock from Fed Policies

Bitcoin and crypto prices have steadied after teetering on the brink of another decline yesterday, with traders still recovering from a sudden sell-off that sparked concerns of an impending "financial crisis."

The price of Bitcoin dropped sharply towards $100,000 before recovering to around $102,000. However, both Bitcoin and the broader crypto market remain subdued, even after BlackRock CEO Larry Fink made a surprise announcement regarding a sovereign wealth fund.

Now, as Coinbase's CEO predicts when Bitcoin might surpass gold's $18 trillion market cap, crypto traders are bracing for the Federal Reserve's upcoming interest rate decision, following calls from U.S. President Donald Trump for significant rate cuts.