Shares in Trump Media and Technology Group rose 5.7% on Tuesday after the president's social media company launched a series of exchange trade funds by announcing a deal with Crypto.com.
in Press release is late MondayTrump Media said the funds and related products traded on the exchanges have a “American focus across diverse industries such as energy.”
Crypto.com and its US affiliate Foris Capital will launch the ETF later this year, subject to regulatory approval, according to a press release.
Before the announcement, Trump Media's stocks, which owns Truth Social, a social media app like President X, fell by about 40%. Stocks suffered as tariffs Trump threatened surprised investors as economists warned that taxes could reheat inflation.
Trump Media recently reported revenue of $3.6 million in 2024, along with a loss of $400 million over the same period.
ETF is the Trump family's latest crypto venture after launching Memocoin earlier this year, modeled after portraits of the president and first lady.
Singapore-based Crypto.com said it will support back-end technology and provide cryptocurrency for funds.
According to a press release, ETFs are expected to be widely available internationally, including in the US, Europe and Asia.
Kris Marszalek, CEO and co-founder of Crypto.com, said the partnership “provides more options from brands with loyal supporters to consumers.”
The funds will be sold under Trump Media's fintech brand Truth.fi.
Also on Tuesday, World Liberty Financial, a crypto project supported by Trump and his family, said it would. Start Stablecoin They stuck to government debt.
The token, called USD1, is supported by short-term US government Treasury, US dollar deposits and other cash equivalents, the company said.
World Liberty Financial said the new coins will be issued on the Ethereum and Binance blockchains.
