Trump’s media group partners with Crypto.com to launch ‘Made in America’ ETFs
President Donald Trump’s media group is partnering with Singapore-based crypto alternate Bitcoin and different unspecified digital property, the ETFs will embrace Cronos, a cryptocurrency with ties to Crypto.com, the assertion says.
The partnership places Trump’s media firm, of which Trump owns a majority stake, in enterprise with an organization that was not too long ago within the crosshairs of U.S. regulators. In August of final yr, Crypto.com acquired a Wells Notice, a letter from a authorities company letting a defendant know that the company intends to sue them, from the Securities and Change Fee alleging it violated securities legal guidelines. Earlier than the company filed a proper lawsuit towards the corporate, Crypto.com sued the SEC claiming it was working exterior of its jurisdiction. Nevertheless, Crypto.com withdrew its grievance in December after CEO Kris Marszalek met with then President-elect Trump at Mar-a-Largo. TMTG didn’t instantly reply to Fortune’s request for extra remark.
The Singapore-based firm has rapidly change into probably the most common centralized crypto exchanges, leaping from thirteenth highest by trading volume to 3rd inside the final yr, in accordance with knowledge collected by crypto analytics platform CoinGecko.
This story was initially featured on Fortune.com
