Donald Trump’s media company is expanding into the cryptocurrency and financial services sector through a new partnership with a major cryptocurrency exchange. The deal represents another step in the growing relationship between the Trump business empire and digital assets.
Trump Media and Technology Group (TMTG), which operates the social media platform Truth Social, announced on April 22 that it has signed a binding agreement with cryptocurrency exchange Crypto.com and asset manager Yorkville America Digital. The partnership aims to launch exchange-traded funds (ETFs) with a “Made in America” focus.
These ETFs are expected to include both digital assets and securities from various American industries, including energy. The funds will be launched through TMTG’s decentralized finance brand, Truth.Fi, and will be available through Crypto.com’s broker-dealer, Foris Capital.