Donald Trump’s media company partners with Crypto.com, triggering crypto market frenzy

Reportedly, trading volume for CRO rose almost six times from $21 million to $126 million by Monday evening, with traders racing to ride on the presidential connection. The Crono Chain Daily transaction chart showed that transactions have more than doubled, from around 40,000 to over 82,000.

What does the partnership mean?

With the alliance, the companies look to create inventive funds with firms that are focused on rapid growth, technological innovation, and strengthening the US economy, according to Trump Media CEO Nevin Nunes.

In the statement, Nunes said that the ETFs that are underway will include exposure to Bitcoin and Cronos. It needs to be noted that past announcements had no mention of the CRO token being included in the plan. Reportedly, the new products will be launched under the Truth.Fi brand across markets in the US, Europe and Asia if approved by regulators, with a larger goal of aligning with Trump’s economic agenda. 

The ETFs will be offered through Foris Capital, which is the broker-dealer for Crypto.com, later this year. Crypto.com is expected to offer backend technology, custody services, and cryptocurrencies such as Bitcoin and Cronos for these ETFs.

Trump’s Truth.Fi brand was launched in January when the world was witnessing a surge in crypto investments. Nearly a month later, Trump Media had filed trademarks for six investment products, including Truth.FI Bitcoin Plus ETF, Truth. Fi Made in America ETF and Truth.Fi U.S. Energy Independence ETF. These products will focus on Bitcoin and key US sectors such as manufacturing and energy.

With this, Trump Media seems to be aiming to expand into financial services, using the growing interest in digital assets and US-focused investments. The partnership with Crypto.com will likely boost the ETF and fintech space, further aligning with Trump’s broader economic policies.