NEW YORK – Trump Media & Technology Group is set to collaborate with Crypto.com on a suite of “Made-in-America” investments. This partnership links the former US President’s social media company with a Singapore-based firm that was entangled in a legal battle with US regulators in 2024.
Mr. Donald Trump, the largest shareholder of Trump Media, holds a US$2.4 billion stake through a trust managed by his son, Donald Trump Jr. According to a statement released on March 24th, the parent company of Truth Social will sell exchange-traded funds (ETFs) centered around digital assets and other US-focused investments via a platform owned by Crypto.com. These products are slated for release in 2025 across the United States, Europe, and Asia, conditional upon regulatory approval. Crypto.com will provide the cryptocurrencies and technology underpinning these ETFs, which will be accessible through Foris Capital, a US-based platform acquired by Crypto.com in 2024.
The administration of President Trump has shown signs of easing restrictions on the digital asset sector. Within the initial 100 days of his term, the Securities and Exchange Commission (SEC) has either abandoned or paused significant legal actions against firms such as Coinbase Global and Binance Holdings.
Trump Media also revealed that its forthcoming digital currency ETFs will include Cronos, a virtual currency associated with Crypto.com. Cronos was not mentioned in original product announcements, and the ETFs are planned to be issued under the brand Truth.Fi.
In October, the SEC announced its intention to sue Crypto.com for operating an unregistered securities exchange. Crypto.com responded with a lawsuit against the SEC, contending that the regulator exceeded its authority. However, following Mr. Trump’s election victory in December, Crypto.com withdrew its complaint. “We look forward to working with the new administration to develop and advance clear regulations for the crypto industry,” stated a company spokesperson at the time. Crypto.com’s CEO, Kris Marszalek, also engaged in discussions with Mr. Trump at Mar-a-Lago concerning appointments relevant to the industry.
