Trump Media and Crypto.com Announce Partnership, Fueling Crypto Market Excitement
Donald Trump’s media company, Trump Media and Technology Group, has joined forces with Crypto.com to launch exchange-traded funds (ETFs) and other investment products. The partnership, announced on Monday, has already ignited considerable interest in the cryptocurrency market, particularly for Cronos (CRO).
Following the announcement, shares of Trump Media saw a rise of 10.5 percent.
According to CoinGecko data, Cronos (CRO), the native cryptocurrency of the Cronos Chain, a blockchain developed by Crypto.com, experienced a surge of approximately 30 percent within 24 hours. This caused investors to quickly amass CRO. Trading volume for CRO increased nearly sixfold from approximately $21 million to $126 million by Monday evening.
Partnership Details and Future Plans
According to Trump Media CEO Nevin Nunes, the alliance seeks to create inventive funds with firms that are focused on rapid growth, technological innovation, and strengthening the U.S. economy.
Nunes stated that the forthcoming ETFs will include exposure to Bitcoin and Cronos. It’s worth noting that previous announcements did not mention the CRO token being included in the plan. The new products will be launched under the Truth.Fi brand across the U.S., Europe, and Asia, pending regulatory approvals. This move aligns with Trump’s broader economic agenda.
The ETFs will be offered through Foris Capital, Crypto.com’s broker-dealer, later this year. Crypto.com is expected to provide backend technology, custody services, and cryptocurrencies such as Bitcoin and Cronos for these ETFs.
Trump’s Truth.Fi brand was launched in January, coinciding with a boom in crypto investments. Nearly a month later, Trump Media filed trademarks for six investment products, including the Truth.Fi Bitcoin Plus ETF and the Truth.Fi Made in America ETF. These products will focus on Bitcoin and key U.S. sectors like manufacturing and energy.
This partnership suggests Trump Media’s expansion into financial services, capitalizing on the increasing interest in digital assets and U.S.-focused investments.
The partnership with Crypto.com is likely to boost the ETF and fintech space, further aligning with Trump’s broader economic policies.
