 "Trump Media inks deal with Crypto.com: How will Singaporean firm create 'made-in-America' ETFs?")
Trump Media & Technology Group, the company behind President Donald Trump’s social media platform Truth Social, has struck a partnership with Crypto.com to launch a suite of “Made-in-America” exchange-traded funds (ETFs) – despite Crypto.com’s roots in Singapore and its recent legal tussles with US regulators.
The collaboration, revealed on Monday (March 24), will see the ETFs made available later this year across the United States, Europe and Asia, pending regulatory approval. Crypto.com will provide both the digital assets and the underlying technology for the products, which will be offered through Foris Capital, a New Hampshire-based platform acquired by the company last year.
Despite the “Made-in-America” branding, Crypto.com is headquartered in Singapore and was previously involved in a legal dispute with US regulators. The partnership, thus, places Trump Media in business with a foreign firm that only last year was at odds with American authorities, according to South China Morning Post.
Among the financial products announced is an ETF featuring Cronos, a cryptocurrency affiliated with Crypto.com. Cronos had not been mentioned in earlier communications about the planned offerings, which are being launched under the Truth.Fi brand.
The deal comes as President Donald Trump’s administration takes a markedly different approach to the digital asset industry. Within his first 100 days in office, the Securities and Exchange Commission has paused or dropped high-profile legal actions against major crypto companies, including Coinbase Global and Binance Holdings.
Trump Media said in an earlier statement that it looked forward to working with the new administration “to develop and advance clear regulations for the crypto industry.”
Impact Shorts
More ShortsCrypto.com’s chief executive, Kris Marszalek, has reportedly met with President Trump at Mar-a-Lago to discuss political appointments relevant to the sector.
President Trump is the largest shareholder in Trump Media, holding a $2.4 billion stake through a trust managed by his son, Donald Trump Jr.
With inputs from agencies
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