Latest news with #America-First
Yahoo
18 hours ago
- Business
- Yahoo
Trump-Tied ‘Truth Social Bitcoin ETF' Edges Closer to Launch
(Bloomberg) -- Trump Media & Technology Group Corp. appears to be one step closer to launching an exchange-traded fund tied to Bitcoin, joining the crowded field of crypto-investment offerings for the retail masses. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry The Global Struggle to Build Safer Cars At London's New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending NYSE Group Inc. filed regulatory paperwork on Tuesday to list the Truth Social Bitcoin ETF, using the name of President Donald Trump's social network. Trump Media, which is majority-owned by Trump, applied in February to trademark brands for investment products with themes that closely track the president's policy priorities, including Bitcoin. The firm signed a formal agreement with a New Jersey-based firm, Yorkville Advisors — which it referred to as 'an America-First asset management firm' — to shepherd the products through the approval process. Yorkville America Digital is listed in Tuesday's filing as the sponsor of the new Truth Social ETF, which is set to buy and sell Bitcoin in order to track the price of the cryptocurrency. — through an affiliated entity named Foris DAX Trust Company LLC — will be the custodian of the digital tokens, according to the filing. The document does not mention Trump or offer a ticker or fees for the new fund. Yorkville and Trump Media did not immediately respond to requests for comment. If the fund is approved, it will join a universe of more than 60 US ETFs tied to Bitcoin. This one, though, could benefit from its ties to a president who has pushed for Bitcoin-friendly legislation and talked about creating a national cryptocurrency reserve. 'On one hand, this is pretty unchartered territory and a huge endorsement of Bitcoin from Trump's company,' said Bloomberg Intelligence senior ETF analyst Eric Balchunas. 'But on the other, it's a routine filing in a very crowded category and it will have its work cut out to attract flows and liquidity.' The ETF is one of the many cryptocurrency-related businesses being built by companies tied to Trump. Trump Media recently announced that it would be borrowing money to invest in Bitcoin, and the company previously said it would invest in the ETFs it issues. The links have drawn criticism from ethics experts because of the way Trump could benefit financially from areas where he is also responsible for setting policy. The White House has previously said the president is walled off from the businesses that carry his name. He has transferred about $4 billion worth of Trump Media shares to a trust controlled by his son Donald Trump Jr. (Updates fourth paragraph with details) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Is Elon Musk's Political Capital Spent? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 hours ago
- Business
- Yahoo
Trump-Tied ‘Truth Social Bitcoin ETF' Inches Closer After Filing
(Bloomberg) -- Trump Media & Technology Group Corp. appears to be one step closer to launching an exchange-traded fund tied to Bitcoin, joining the crowded field of crypto-investment offerings for the retail masses. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry The Global Struggle to Build Safer Cars At London's New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending NYSE Group Inc. filed regulatory paperwork on Tuesday to list the Truth Social Bitcoin ETF, using the name of President Donald Trump's social network. Trump Media, which is majority-owned by Trump, applied in February to trademark brands for investment products with themes that closely track the president's policy priorities, including Bitcoin. The firm signed a formal agreement with a New Jersey-based firm, Yorkville Advisors — which it referred to as 'an America-First asset management firm' — to shepherd the products through the approval process. Yorkville America Digital is listed in Tuesday's filing as the sponsor of the new Truth Social ETF, which is set to buy and sell Bitcoin in order to track the price of the cryptocurrency. Foris DAX Trust Company LLC will be the custodian of the digital tokens, according to the filing. The document does not mention Trump or offer a ticker or fees for the new fund. Yorkville and Trump Media did not immediately respond to requests for comment. If the fund is approved, it will join a universe of more than 60 US ETFs tied to Bitcoin. This one, though, could benefit from its ties to a president who has pushed for Bitcoin-friendly legislation and talked about creating a national cryptocurrency reserve. 'On one hand, this is pretty unchartered territory and a huge endorsement of Bitcoin from Trump's company,' said Bloomberg Intelligence senior ETF analyst Eric Balchunas. 'But on the other, it's a routine filing in a very crowded category and it will have its work cut out to attract flows and liquidity.' The ETF is one of the many cryptocurrency-related businesses being built by companies tied to Trump. Trump Media recently announced that it would be borrowing money to invest in Bitcoin, and the company previously said it would invest in the ETFs it issues. The links have drawn criticism from ethics experts because of the way Trump could benefit financially from areas where he is also responsible for setting policy. The White House has previously said the president is walled off from the businesses that carry his name. He has transferred about $4 billion worth of Trump Media shares to a trust controlled by his son Donald Trump Jr. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Is Elon Musk's Political Capital Spent? ©2025 Bloomberg L.P. Sign in to access your portfolio
Business Insider
10-05-2025
- Business
- Business Insider
Trump Media reports Q1 revenue $8.8M
The company ended the quarter with $759M of cash, cash equivalents, and short-term investments. Trump Media (DJT) Chairman and CEO Devin Nunes said, 'As we launched our diversification strategy last quarter, we developed unique financial products to meet the demand for non-woke funds that invest in superior American companies. We anticipate that this offering will just be the initial step in a wider expansion into new realms and industries, which will occur as we enhance both Truth Social and Truth+, including our plan to introduce a Truth+ subscription package with premium content. We are now taking every possible step to position the Company to expand robustly throughout the America-First economy.' Protect Your Portfolio Against Market Uncertainty
Yahoo
07-05-2025
- Business
- Yahoo
America needs to 'reform, not retreat' from global assistance programs, foreign policy organization says
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways EXCLUSIVE — Today, the U.S. is confronting increasing threats from adversaries that endanger its national security. The U.S. Global Leadership Coalition (USGLC) has released a blueprint aimed at guiding the U.S. toward international assistance programs that help maintain American dominance on the world stage. "So, we were really interested in writing a blueprint for how America can win in the world in light of the fact that our competitors — you know, China, Russia, Iran, North Korea — are out there playing to win. They are aligned against her interests," USGLC President Liz Schrayer told Fox News Digital. President Donald Trump speaks next to Defense Secretary Pete Hegseth, right, and Secretary of State Marco Rubio during a cabinet meeting at the White House in Washington, D.C., April 30, 2025. Sec Rubio Says Purge Of Usaid Programs Complete With 83% Gone, Remainder Now Falling Under State Dept In its "Blueprint for America to Win in the World," USGLC outlines 10 recommendations for the Trump administration and Congress "to ensure U.S. international assistance delivers for the American people." The blueprint emphasizes reforming U.S. international assistance programs, not cutting them. "These resources that deliver exactly what President Trump has said he wants to do in terms of peace through strength, which is to outcompete our rivals in China, put America at the front line of delivering for the American people. So, at the end of the day, this is reform, not retreat," Schrayer said. Read On The Fox News App Schrayer explained that the blueprint aligns with Secretary of State Marco Rubio's vision to use international assistance in ways that make the U.S. "stronger, safer and more prosperous." She also said that President Donald Trump's "Peace through Strength" aims are "right on target" for the current global landscape. USGLC's 10 recommendations include unleashing the private sector, promoting "burden sharing" with allies, aligning U.S. international assistance with strategic interests, targeting drivers of instability and more. The organization said in its blueprint it aims to equip America with tools to play both offense and defense. "Targeted, accountable international investments are essential to defend a stable, America-First world order. We are not talking about bureaucratic giveaways without oversight. ... An engaged America means safer communities at home and abroad," said former Sen. Norman Coleman, who serves as co-chair of USGLC. A view of the Capitol from the National Mall in Washington, D.C., Aug. 9, 2024. Top Senate Armed Services Republican Says Trump Omb's Budget 'Shreds To The Bone' Military Capabilities Schrayer told Fox News Digital she has started taking these ideas to Capitol Hill and is meeting with lawmakers at the height of budget season, making the blueprint timely. While Schrayer is still gathering responses to the blueprint, she said one idea in particular has gotten wide support. USGLC is calling for the creation of an American brand or logo to let those receiving foreign assistance know where it's coming from and who paid for it. She said that America's enemies, like China, are not afraid to take credit for the assistance they provide, and it's time for the U.S. to do the same. President Donald Trump's administration has been cracking down on illegal immigration. "We should have one American flag with a tagline that says, 'From the American people.' Too often, when you go out, it's a little bit confusing that it's from the American people because sometimes you can go to a site, and you can see a lot of logos of what we're doing. So, I think there's a lot of consensus around that one in particular," Schrayer said. USGLC said that it has gotten support for the blueprint from military leaders and national security experts. "You've heard over and over again that nature abhors a vacuum; if we are not engaged, someone else will be. There are lots of countries that have lots more nefarious goals when they go out and engage," former NATO Commander General Philip Breedlove said in a statement. Original article source: America needs to 'reform, not retreat' from global assistance programs, foreign policy organization says
Int'l Business Times
30-04-2025
- Business
- Int'l Business Times
Trump's Media Company Mulls Utility Crypto Token, Digital Wallet For Truth Social
Donald Trump's media company wants to go deeper into the crypto said it is exploring the possibility of a 'utility token within a Truth digital wallet' Details are scarce about the said crypto token and which crypto team or firm will develop the wallet Many crypto users on X urged the president to refrain from launching another crypto token $TRUMP prices plunged as news of TMTG's plans spread across social media U.S. President Donald Trump's media company, Trump Media and Technology Group (TMTG), informed shareholders Tuesday that it is exploring the possibility of launching a dedicated cryptocurrency token for Truth Social and a new digital wallet. Notably, TMTG has already been expanding its business to include fintech, including a recent partnership with to launch what the parties called "Made in America" exchange-traded funds (ETFs). TMTG Seeks Expanded Crypto Integration The Tuesday shareholders letter first discussed how Truth Social has supposedly paved the way for giving "the American people their voices back." The letter also revealed that there are approximately 600,000 investors "who believe in free speech and other America-First principles" who have steadfastly supported TMTG over the years. Moving forward, TMTG said it is reviewing various means to monetize Truth Social, the company's social media platform. "Additionally, as part of the rewards program, we're exploring the introduction of a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere," the letter noted. Details about the said "utility" token are scarce, and it is unclear how Truth Social will launch the crypto asset and if it will be created by the same team that worked on Trump's official meme coin. It is also unclear which specific crypto company TMTG will partner with to create the Truth Social digital wallet. Crypto Has Mixed Reactions to the News As news of TMTG's plans spread across the crypto community, there were mixed reactions, with some pointing out how it has negatively affected the TRUMP meme token's price. Many urged the U.S. president to not launch any more tokens, given how many new crypto holders lost money in the Official Trump coin. No more trump coins man — Xander (@baltimore465) April 29, 2025 he is launching another token??? NO MORE WINNING, PLEASE MR PRESIDENT. — Trappy (@J2Trappy_) April 29, 2025 "Not sure if I like this, everything $TRUMP related still kind of gives me shivers," said one user. not sure if I like this, everything $TRUMP related still kind of gives me shivers — Chilly_MC_Frost (@abstractist99) April 29, 2025 One X user recommended that Truth Social adopt stablecoins for its subscription system "and leave it at that" instead of launching a separate utility token for the platform. Trump has yet to make an official statement regarding his media company's future plans, but it could also be due to early concerns around his crypto ventures that some critics said posed conflicts of interest. Meanwhile, the president appears to still be an ally of the crypto space, although not much progress has been made since he ordered the establishment of a strategic Bitcoin reserve and a digital assets stockpile. He recently invited top TRUMP meme coin holders to dinner, sending the token's price skyrocketing. It did plunge soon and remains down significantly from its January all-time highs above $70. © Copyright IBTimes 2024. All rights reserved.
