So, Trump is doing it again. This time, his big idea is teaming up with Crypto.com for an ETF launch. I mean, who saw that coming? Just when you thought it couldn’t get weirder, here we are.
The whole thing is still waiting for “regulatory approval”—because that’s always a good sign, right? The brainchild behind this master plan is Trump Technology Group Corp (TMTG). Yes, the same folks behind Truth Social, which is just… fantastic. And now, they’re jumping into the world of fintech with Truth.Fi. Really? Does anyone need this?
These ETFs—because apparently that’s what everyone needs in life—are supposed to debut later this year, courtesy of Crypto.com’s broker-dealer Foris Capital US LLC. And guess what? They’ll be a mix of cryptocurrencies and securities, with a nice “Made in America” twist. The stars of the show might include the usual suspects: Bitcoin, Ether, Solana, XRP, and Cronos. Just what the world needed, more tokens to juggle. Crypto.com will be handling the “custody and infrastructure,” so at least it won’t be Trump’s responsibility if things go sideways.
Once launched, these ETFs will be available globally, because why limit the chaos to just the U.S.? Markets in Europe and Asia will get their turn too. And, in case you were wondering, over 140 million Crypto.com users can get in on the action through the Crypto.com app. Woohoo, what could possibly go wrong?
Meanwhile, TMTG is busy rolling out something called “Truth.Fi Separately Managed Accounts” (SMA), which, let’s be honest, sounds like a financial product no one asked for. But hey, they’re backing it with their own cash reserves. So, that’s reassuring, right?
But wait, there’s more! Some Democratic lawmakers are already raising eyebrows. Representative Gerald Connolly is out here accusing Trump of running a memecoin scheme that’s raked in over $100 million in trading fees. And Representative Maxine Waters—because of course—called it a “deceptive scheme” that highlights all the worst things about crypto. Shocking. No, really. It’s shocking that anyone still listens to politicians on this stuff.
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2025-03-25 13:35