Latest news with #Truth.FiBitcoinPlus
Yahoo
25-03-2025
- Business
- Yahoo
Trump Media Shares Jump as Truth.Fi Partners with Crypto.com on ETFs
Trump Media & Technology Group (DJT, Financial) saw its stock jump about 10% in pre-market trading on Tuesday after unveiling a new partnership with The media company behind Truth Social plans to roll out exchange-traded funds (ETFs) and other financial products under its brand. Warning! GuruFocus has detected 4 Warning Signs with DJT. The upcoming ETFs, set to launch later this year, will feature a mix of digital assets and "Made in America" securities across multiple industries. Foris Capital, broker-dealer, will oversee distribution, while will handle backend technology, custody, and digital assets like Bitcoin and cronos. Trump Media first introduced its financial services arm, in January as crypto markets surged. The company's board had already greenlit a $250 million investment through Charles Schwab, aiming to diversify holdings beyond its $700 million cash reserve. Plans include ETFs, separately managed accounts, and cryptocurrencies. In February, Trump Media applied for trademarks on six investment products tied to Bitcoin, U.S. manufacturing, and energy independence. The lineup includes Bitcoin Plus ETF, Made in America ETF, and U.S. Energy Independence ETF. This article first appeared on GuruFocus. Sign in to access your portfolio
USA Today
07-02-2025
- Business
- USA Today
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 Bitcoin Plus ETF, Made in America ETF, and 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, 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
New York Times
06-02-2025
- Business
- New York Times
Trump Media Is Moving Into the Financial Services Industry
President Trump's social media company is moving to position itself as a financial services firm that will allow his supporters to put money into investment products geared to what the company has called the 'patriotic economy.' Trump Media & Technology Group, the parent company of the Truth Social platform, said on Thursday that it had applied for trademark applications for a number of investment products, including several exchange-traded funds, which are similar to mutual funds. The products, which Trump Media said would be available this year, will bear names such as ' Made in America ETF' and ' Bitcoin Plus ETF.' Trump Media applied late last year to trademark the name, which it described in its application as a platform for financial custody services and trading in digital assets. Mr. Trump and his family started embracing digital currencies last year by partnering with a new digital assets company called World Liberty Financial. Last month, the president said he was starting a memecoin — a type of cryptocurrency that is more of a novelty item than something more established like Bitcoin. 'We will continue to fine tune our intended product suite to develop the optimal mix of offerings for investors who believe in America First principles,' Devin Nunes, chief executive of Trump Media and a former congressman from California, said in a news release. America First is part of the political movement associated with Mr. Trump. Broadly speaking, companies that espouse America First principles are marketing products that specifically cater to Mr. Trump's supporters or conservative causes. Some of these companies are advertisers on Truth Social. Trump Media, which is publicly traded, has struggled to generate revenues from advertising on its Truth Social or streaming video platforms. Though Truth Social is Mr. Trump's primary online megaphone for communicating with the public, he has just over eight million followers on the platform. By contrast, he has 100 million followers on X, which is owned by Elon Musk, now a top adviser to the president. Some of the financial products Trump Media intends to introduce may need approval from the Securities and Exchange Commission. Mr. Trump has nominated Paul Atkins, a former S.E.C. commissioner and a crypto advocate, to take the helm of the regulator. Mr. Trump has no formal position with Trump Media, but he is the company's largest shareholder. A few weeks before Mr. Trump was inaugurated for a second term, he transferred his 115 million shares in the company to a trust controlled by his eldest son, Donald Jr., who is also a company board member. Mr. Trump's shares are worth about $3.4 billion based on Trump Media's current $30-a-share price. The company said it would be outsourcing much of the work on creating and managing the financial products to Yorkville Advisors, an investment firm in New Jersey, with which it signed a licensing agreement. Trump Media said Yorkville would also manage the process of getting any necessary regulatory approvals. Last year, Trump Media entered into a so-called equity line of credit with Yorkville, an arrangement in which the firm can acquire discounted shares from the company in return for cash. The deal allows Yorkville to buy up to $2.5 billion worth of stock over a three-year period. Yorkville specializes in investing in small companies. In 2012, the S.E.C. accused the firm of misvaluing its assets to hide losses from investors. But in 2018, a federal judge dealt a big blow to the S.E.C. by dismissing most of the civil fraud claims against Yorkville. The S.E.C. ultimately agreed to dismiss the matter entirely. Mark Angelo, Yorkville's president, said in the Trump Media news release, 'We greatly value our position as a strategic financial partner to TMTG.'
