- With regard to the development and launch of the products, Davis Polk & Wardwell LLP will be providing the parties with consultancy services.
- It is anticipated that the exchange-traded funds (ETFs), which will be made accessible via Foris Capital US LLC, the broker dealer for Crypto.com.
- It is anticipated that the funds will be launched later this year, subject to regulatory clearance, and will be widely accessible around the globe.
Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“TMTG” or the “Company”), the operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, has signed a binding agreement to collaborate with Crypto.com, the prominent cryptocurrency trading platform in the United States, and Yorkville America Digital, an America-First asset management firm, in order to launch a series of exchange-traded funds and exchange-traded products (collectively referred to as “ETFs”) through the Truth.Fi brand.
A non-binding agreement between the firms was reached in March, and this arrangement is the result of that agreement. With regard to the development and launch of the products, Davis Polk & Wardwell LLP will be providing the parties with consultancy services.
It is anticipated that the exchange-traded funds (ETFs), which will be made accessible via Foris Capital US LLC, the broker dealer for Crypto.com, would include digital assets in addition to equities that have a Made in America emphasis and will cover a variety of sectors, including energy. It is anticipated that the funds will be launched later this year, subject to regulatory clearance, and will be widely accessible around the globe, including in the United States of America, Europe, and Asia, via various brokerages and platforms that are already in operation.
TMTG CEO and Chairman Devin Nunes said:
“This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great partners, Crypto.com and Yorkville America Digital, and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.”
Kris Marszalek, Co-Founder and CEO of Crypto.com stated:
“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities. This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital.”
Troy Rillo, CEO of Yorkville America Digital stated:
“Finalizing our agreement with Trump Media and Crypto.com for our ETF launch is a significant milestone as we work to bring to market new products that align with the America-First focus of our firm. This is an exciting moment and we anticipate substantial interest in the ETFs upon their launch later this year.”
A number of Truth.Fi Separately Managed Accounts (SMAs) are going to be launched concurrently with the exchange-traded funds (ETFs). Both exchange-traded funds (ETFs) and SMAs, in which TMTG intends to invest using its own cash reserves, are a component of a financial services and FinTech strategy that TMTG intends to implement, with Charles Schwab being responsible for the custody of up to $250 million.
Through the opening up of the Internet and the restoration of people’s voices, the purpose of TMTG is to put a stop to the attack on free speech that is being carried out by Big Tech. Truth Social is a social media platform that was formed as a safe harbor for free speech in the face of increasingly severe restrictions by Big Tech businesses. Truth+ is a television streaming platform that focuses on family-friendly live TV channels and on-demand content. Both of these platforms are operated by TMTG. Additionally, TMTG is introducing Truth.Fi, a brand that will cater to the financial services and FinTech industries and will include America First investment products.
More than 140 million clients across the globe put their faith in Crypto.com, which was established in 2016, and it is the industry leader in terms of regulatory compliance, security, and privacy in the cryptocurrency sector. Cryptocurrency in Every Wallet™ is the straightforward vision that the exchange has. By fostering innovation and providing the next generation of builders, creators, and entrepreneurs with the resources necessary to create a digital ecosystem that is more equitable and fair, Crypto.com is dedicated to speeding the adoption of cryptocurrency.
The asset management company Yorkville America Digital, which is situated in Florida, specializes in the provision of branded investment products that are oriented upon the digital asset sector and firms that are Made in America. Through the provision of individualized investment products, Yorkville America Digital, which has a comprehensive understanding of the securities industry and the capital markets, responds to the unique requirements of its customers at all times.
