Trump put $250 million into a Schwab account to buy some crypto
President Donald Trump’s publicly traded company has accumulated so much cash that it’s throwing $250 million into a Schwab account to buy crypto. Wall Street was so impressed at the headline that the stock rallied $800 million following the morning announcement. According to a press release from Trump Media, the company is putting $250 million into a Charles Schwab brokerage account to buy various securities. These include “bitcoin and similar cryptocurrencies or crypto-related securities.” The news also includes a planned launch of a new crypto website — Truth.fi, currently just a domain name — which will be integrated into Trump’s social media app, Truth Social. The “.fi” top-level domain (TLD) — Finland’s official domain code — is a common convention for many Metamask-enabled websites that allow visitors to trade crypto. Because Trump and his children have been vocal supporters of such websites and so-called decentral...