Trump Media Teams Up With Crypto.com to Launch Crypto ETFs
Donald Trump’s presence in the cryptocurrency sector has intensified, with his media company, Trump Media & Technology Group, taking a major step into digital assets.
The firm announced a partnership with Crypto.com to launch a series of exchange-traded funds (ETFs) and financial products under the Truth.Fi brand, signaling a strategic move into the growing crypto investment space.
The rise of ETFs has garnered significant attention across the financial world, and Trump Media is looking to capitalize on this momentum. Crypto.com will play a crucial role in the initiative, providing custody services, backend technology, and support for digital assets like Bitcoin and Cronos. Broker-dealer Foris Capital will also be involved in making these ETFs accessible through the exchange.
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These funds will focus on digital assets and securities tied to various industries, particularly those with a strong American presence. The ETFs are set to launch later this year and will be available to investors across the United States, Europe, and Asia.
Kris Marszalek, CEO of Crypto.com, expressed enthusiasm about the partnership, highlighting the innovative nature of these ETFs and their potential to offer investors new opportunities within the crypto market. He noted that once launched, these products would be available to Crypto.com’s 140 million users worldwide.
Despite its high-profile backing, Trump Media remains a relatively small company with financial challenges. While its market value stands at approximately $4.6 billion, the firm recently reported a modest revenue of $3.6 million for 2024 while posting a $400 million loss. These figures contrast sharply with Trump’s growing influence in the crypto space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
