Trump's Truth. Fi Takes a Crypto Turn

A fresh chapter has been opened for Trump Media and Technology Group. They have just inked a deal with Crypto. com. The goal? To roll out a set of exchange-traded funds (ETFs) under the Truth. Fi label. What's the big deal about this? Well, it's the first significant move for Truth. Fi. It's a brand that's part of the same family as Truth Social and Truth Plus. Truth Social is a social media platform. Truth Plus is a content streaming service. Both are owned by Trump Media and Technology Group. Back in January, the company's board gave the green light to set aside up to $250 million. This money would be used to create customized Separately Managed Accounts (SMAs) and ETFs. The plan was to team up with Charles Schwab and Yorkville America. However, things changed. Now, Crypto. com is in the mix, working with Yorkville advisors. So, what's Crypto. com bringing to the table? They'll handle the backend technology, provide custody, and supply the cryptocurrencies. The ETFs will feature a unique basket of tokens. This basket will include Bitcoin, Cronos, and other crypto assets. The CEO of Crypto. com is thrilled about the partnership. He highlighted that one of the ETFs will include a first-of-its-kind basket of tokens, including CRO. When will these ETFs hit the market? That's the million-dollar question. They're expected to launch later this year, pending regulatory approval. And get this, they'll be available internationally. But there's more to the story. Trump Media's board has also approved the creation of a strategic acquisition fund. This fund will explore opportunities to partner, merge with, or acquire other players in the growing America First Economy. The stock market has taken notice. At the time of writing, Trump Media and Technology Group shares are up 9 percent in after-hours trading. However, the stock is down around 40 percent year to date. Let's not forget the bigger picture. The world of cryptocurrency is booming. It's a high-risk, high-reward game. Trump Media and Technology Group is diving in headfirst. They're betting big on the future of digital currency. But will it pay off? Only time will tell. One thing is for sure, though. This move is a clear sign that Trump Media and Technology Group is serious about expanding its reach. They're not just playing in the social media sandbox anymore. They're stepping into the world of finance. And they're doing it with a bang.