US President Donald Trump’s media conglomerate, Trump Media and Technology Group, has signed an agreement with crypto exchange Crypto.com to launch exchange-traded funds “with a Made in America focus.”Trump Media, which operates the social media site Truth Social, said on April 22 that it signed a binding agreement with Crypto.com and asset manager Yorkville America Digital to launch ETFs, which “are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy.”The funds will launch through Trump Media’s decentralized finance brand, Truth.
Source: CoinGlassRelated: Trump’s next crypto play will be Monopoly-style game — ReportIt comes after Bitcoin ETFs have been plagued by outflows over the past few weeks as the wider market entered a downturn, as Trump ramped up fears of a trade war with threats of tariffs, which were eventually implemented in early April.Meanwhile, Crypto.com’s native token, Cronos (CRO), has surged 12% after the company inked the deal with Trump Media, reaching $0.09.
The initiative is part of the firm’s financial services and fintech strategy, using up to $250 million custodied by Charles Schwab following a partnership agreement with the bank in January. The finalization of the agreement follows Trump Media and Crypto.com signing a non-binding deal in March.
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Author / Journalist: Cointelegraph by Martin Young
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