Trump Media Launches Truth.Fi

This is a news story, published by Yahoo Finance, that relates primarily to Charles Schwab news.

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Yahoo Finance

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Business

Business & Economics

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

Summary

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80% Informative

Trump Media & Technology Group announces plans to invest $250 million in cryptocurrencies.

Charles Schwab , a financial giant, will be keeping custody of the funds.

The Securities and Exchange Commission eliminated a piece of accounting guidance that called for financial institutions to hold crypto on their balance sheet as a liability.

The thinking within crypto circles is that this one step is part of a directional shift that will ultimately encourage more banking giants to deal with digital assets.

Morgan Stanley CEO Ted Pick : "We'll be working with Treasury and the other regulators to figure out how we can offer that in a safe way" Bank of America CEO Brian Moynihan : "You’ll find that the banking system will come in hard on the transactional side of it".

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful