New Move from Trump Media to the World of Digital Assets
Donald Trump's media company Trump Media & Technology Group (TMTG) has taken an important step to increase its influence in the crypto sector. The company, Crypto.com by signing a non-binding agreement with the crypto ETF, it aims to offer "Made in America"-themed crypto ETF products to the US, European and Asian Sundays.
This initiative reveals Trump's intention to further expand his activities in the digital asset sector.
Which Cryptocurrencies Will Be Included in ETFs?
TMTG and Crypto.com the ETF products that will be launched with the partnership will include the following popular crypto assets:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (LEFT)
- XRP
- Cronos (CRO.), Crypto.com 'un's own token
These ETFs, Crypto.com it will be developed by Foris Capital US LLC, a subsidiary of . Crypto.com more than 140 million investors who use the app will have easy access to these ETF products.
Regulatory Approvals and Expectations
In order for this partnership to come to life, the approvals of the relevant regulatory authorities are required first. Following the recent approvals granted by the US Securities and Exchange Commission (SEC) to Bitcoin spot ETFs, it is observed that interest in other digital asset ETFs has also increased.
If these ETFs are approved, investors will be able to access digital assets more easily through large financial institutions.
Political Debates and Trump's Crypto Activities
Donald Trump's crypto sector moves are causing controversy in the political arena. Initiatives such as the memecoin named "TRUMP" and the Trump-backed USD1 stablecoin are attracting the reaction of some politicians. Members of the House of Representatives Gerald Connolly and Maxine Waters criticize these initiatives as financial manipulation and abuse of the crypto sector.
The Trump-Backed Stablecoin USD1 and Its Regulatory Implications
The USD1 stablecoin, which was launched by World Liberty Financial on Ethereum and BNB Chain, was introduced with a supply of 3.5 million units. The stablecoin regulations (GENIUS Law) being discussed in the US Senate are expected to become law in June. The stablecoin project, in which Trump is directly involved in relation to these regulations, is inflaming the debate about the neutrality of the laws.
TMTG Shares Are On The Rise
Crypto.com after the partnership announcement with TMTG, there was a 9.4% increase in TMTG shares. This rise has revealed the interest of investors in both digital assets and traditional financial instruments. TMTG CEO Devin Nunes stated that they aim to add value to the US economy with this ETF initiative.
A New Era in Digital Asset Markets
Trump Media and Crypto.com its partnership could accelerate the integration of cryptocurrencies into financial markets. While this development provides great convenience for those who are considering investing in crypto assets, it may also increase the number of institutional investors in the sector. Thus, it is expected that cryptocurrencies will gain wider acceptance in global markets.
