Trump Media files to trademark investment products targeting bitcoin, US industries
Trump Media files to trademark investment products targeting bitcoin, US industries
Show Caption
Hide Caption
Trump tells crypto team to draft new rules, explore US stockpile
"Hello bitcoiners!" He courted cryptocurrency fans during his election campaign. "If crypto is going to define the future, I want to be mined, minted and made in the USA, and it's going to be.' Now Donald Trump is taking steps to deliver on his promise to be a 'crypto president."
Trump Media and Technology Group DJT.O said on Thursday it has applied to trademark six investment products that track bitcoin and the U.S. manufacturing and energy sectors.
The trademarks include Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF.
Trump Media and Technology Group (TMTG) is yet to file for all six products with the U.S. Securities and Exchange Commission.
TMTG is also looking to launch three separately managed accounts (SMAs) focused on these assets, in partnership with financial services firm Charles Schwab SCHW.N.
In case you missed it: Trump Media launches FinTech services brand amid crypto boom
SMAs are investment portfolios managed by professional asset managers for individual investors or institutions.
U.S. President Donald Trump is the majority owner of TMTG, which runs the social media platform Truth Social.
Last week, TMTG said its board approved the launch of a financial services and fintech brand, Truth.Fi. The new products are part of the strategy and include investments of up to $250 million, which will be custodied by Charles Schwab.
Reporting by Manya Saini in Bengaluru; Editing by Shounak Dasgupta
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
15 minutes ago
Senate considers Michael Boren to lead Forest Service, despite clashing with agency
President Donald Trump's nominee to oversee the U.S. Forest Service has a history of clashing with the very agency that he soon could be leading. On Tuesday afternoon, the Senate Committee on Agriculture, Nutrition, and Forestry began the confirmation hearing for Michael Boren, an investment consultant, Idaho ranch owner and founder of a billion-dollar tech company. A bipartisan committee will assess Boren's qualifications and vote on his nomination. Boren, 62, has brawled with the U.S. Forest Service in recent years. One recent conflict involves building a cabin and clearing land within the Sawtooth National Forest near Stanley, Idaho, E&E News reported, citing agency correspondence and individuals familiar with the situation. He co-founded Boise-based tech company Clearwater Analytics and owns a 480-acre ranch, some of it within the Sawtooth National Recreation Area, according to the Idaho Mountain Express. The work on the property began before Boren was nominated, but the matter has not yet been resolved, according to the publication. Other disputes include diverting a stream, disputes over how Boren manages land within and around the national forest and disagreements about the precise locations of mining claims made by Boren's corporation, according to E&E News. A small airstrip on Boren's ranch also stirred uproar among neighbors who claim he was using it to land small planes before he was granted a conditional-use permit from the Forest Service, according to the report. Attorney Thomas Balducci, who represented Boren for the 2023 lawsuit regarding the airstrip, declined to provide a comment to ABC News. Boren's brother, David Boren, has also clashed with the Forest Service over a trail the agency built near his ranch. If confirmed as the undersecretary of Natural Resources and Environment, Boren would be responsible for day-to-day operations at the U.S. Forest Service, which manages more than 200 million acres of public land. Boren would report to U.S. Secretary of Agriculture Brooke Rollins. The Senate Agriculture Committee reviews presidential appointments to the Department of Agriculture's cabinet positions. After Tuesday's hearing, a full Senate confirmation will be required to complete Boren's appointment. Current members of the committee include John Boozman (R-AR), Mitch McConnell (R-KY) and Amy Klobuchar (D-MN). Boren was a donor to Trump's 2024 presidential campaign. On Jan. 16, Trump announced Boren's nomination on his social media platform Truth Social, describing him as "a successful businessman, who has founded six companies." "Michael will work to reinvigorate Forest Management at a time when it is desperately needed," Trump wrote. The nomination comes at a time of turmoil within the agency. On April 3, Rollins issued an ordered to remove environmental protections from about 112 million acres of national forests, and thousands of Forest Service employees have been fired in recent months. The Forest Service did not immediately respond to ABC News' request for comment. In a statement to the New York Times, the Forest Service wrote that Boren would "implement President Trump's America First agenda and ensure our forest system is properly managed, productive, and resilient. We look forward to his swift confirmation by the Senate."
Los Angeles Times
15 minutes ago
- Los Angeles Times
Trump administration revokes guidance requiring hospitals to provide emergency abortions
WASHINGTON — The Trump administration announced on Tuesday that it would revoke guidance to the nation's hospitals that directed them to provide emergency abortions to women when they are necessary to stabilize their medical condition. That guidance was issued to hospitals in 2022, weeks after the U.S. Supreme Court upended national abortion rights in the U.S. It was an effort by the Biden administration to preserve abortion access for extreme cases in which women were experiencing medical emergencies and needed an abortion to prevent organ loss or severe hemorrhaging, among other serious complications. An Associated Press investigation last year found that, even with that guidance, dozens of pregnant women were being turned away from emergency rooms, including some who needed emergency abortions. Biden argued that hospitals — including states with near-total bans — needed to provide emergency abortions under the Emergency Medical Treatment and Active Labor Act. That law requires emergency rooms that receive Medicare dollars to provide an exam and stabilizing treatment for all patients. Nearly all emergency rooms in the U.S. rely on Medicare funds. The Centers for Medicare and Medicaid Services, which investigates hospitals that are not in compliance, said in a statement Tuesday that it was rescinding the Biden-era guidance. The agency, however, will continue to enforce the law, 'including for identified emergency medical conditions that place the health of a pregnant woman or her unborn child in serious jeopardy.' But CMS added that it would also 'rectify any perceived legal confusion and instability created by the former administration's actions.' The Biden administration sued Idaho over its abortion law that initially only allowed abortions to save the life of the mother. The federal government had argued before the U.S. Supreme Court last year that Idaho's law was in conflict with the federal law, which requires stabilizing treatment that prevents a patient's condition from worsening. The U.S. Supreme Court issued a procedural ruling in the case last year that left key questions unanswered about whether doctors in abortion-ban states can terminate pregnancies when a woman is at risk of serious infection, organ loss or hemorrhage. Seitz writes for the Associated Press.
Yahoo
15 minutes ago
- Yahoo
Trump Memecoin Wallet Spurs Divide Among Family's Crypto Camps
(Bloomberg) — There appears to be a divide among the various crypto-entities affiliated with President Donald Trump. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry At London's New Design Museum, Visitors Get Hands-On Access The Global Struggle to Build Safer Cars LA City Council Passes Budget That Trims Police, Fire Spending The NFT marketplace Magic Eden said Tuesday that it's partnering with the team behind Trump's memecoin and other ventures to offer a Trump-branded digital wallet and trading application. After reports of the memecoin wallet partnership were published, Donald Trump Jr. said in a posting on X that the Trump Organization had 'zero involvement' in the product and that the family's World Liberty Financial crypto project will be launching its own wallet soon. A spokesperson for Magic Eden told Bloomberg News that the firm is working on the app, but couldn't share a launch date yet. A representative for which is run by long-time Trump collaborator Bill Zanker, didn't immediately return a request for comment. Magic Eden has worked with Zanker on his Trump NFT collections. Available at the app will facilitate trading in the Trump memecoin as well as other cryptocurrencies on major blockchains, and will let users self custody coins and manage their digital assets. The wallet partnership is the latest of several crypto ventures involving the president, his family or associates that have generated concern about potential conflicts of interest. Last month, Senator Richard Blumenthal of Connecticut accused World Liberty of reaping 'substantial financial benefits for its founders and the Trump family.' World Liberty dismissed the allegations. Three members of the Magic Eden team, including its Chief Executive Officer Jack Lau, attended the recent dinner with Trump and holders of his memecoins that inflamed the controversy about the president's crypto ties. The Trump memecoin was issued a few days before Trump's inauguration, and its market capitalization peaked at nearly $15 billion before crashing; it currently stands at $2.31 billion, according to crypto tracker The coin's issuer is pushing for its use in e-commerce and other applications as a way to increase its user base and usefulness. Last year, Magic Eden expanded beyond NFTs, launching its first mobile wallet app allowing for trading of NFTs as well as swapping cryptocurrencies such as Bitcoin, Ether and Solana. Then earlier this year, Magic Eden bought Slingshot Finance, a fast-growing mobile-first crypto trading app, competing with centralized crypto exchanges. Users who sign up for a waiting list for the app are being offered prizes in Trump memecoin, according to the site. Entrants will receive referral links, which they will be able to share with others, and successful referrals could result in winnings of the memecoin. —With assistance from Nathaniel Popper. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P.
