Desk
Share
Last Monday, President Donald Trump announced that Trump Media & Technology Group has secured a partnership with Crypto.com which would enable them to offer crypto exemplified exchange traded funds (ETFs) and other investment products under the Truth.Fi affiliate brand. Trump Media operates the social media platform Truth Social. The company’s shares rose by 10.5% after market closure on Monday, although they have registered a decline of 38% within the year. As stated, the ETFs offered under the popular Crypto.com trademarks will feature digital assets characterized as “Made in America”, alongside other non-US assets. These funds will go live later in 2023, and will be offered in Asia, Europe and the United States. Bitcoin and Cronos will be utilized as the underlying cryptocurrencies for the ETFs, where Crypto.com will provide backend technology and custodial services.
Trump Media, announced the launch of it's Truth.Fi brand in January during the height of the crypto boom. The company was also known to have granted authority for an investment exceeding $250 million utilizing Charles Schwab in a bid to expand beyond their cash reserves, which sat at over $700 million at the end of last year. Besides ETFs, Trump Media have assets allocated towards Bitcoin, cryptocurrency, and cryptocurrency.
In February, Trump Media announced the submission of trademarks for six investment products tracking Bitcoin, U.S. manufacturing, and the energy sector.
The filings include the Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF.
Read More: Massive Earthquake Devastates Myanmar and Shakes Bangkok: Crane Collapse Captured on Video
