Donald Trump’s business empire is taking another swerve at the crypto space! Trump Media & Technology Group (TMTG), the company behind Truth Social, has teamed up with Crypto.com to launch crypto-related exchange-traded funds (ETFs). 

These ETFs are being branded with a “Made in America” theme, aiming to merge crypto with traditional finance. Is this the president’s way of making America great again or are there more hidden agendas behind this move? 

‍

Trump Media x Crypto.com ETFs

‍

‍

On March 24, 2025, TMTG announced a non-binding agreement with Crypto.com to roll out a new line of crypto-focused ETFs. These funds aim to combine exposure to top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO) with select U.S.-based securities. 

The ETFs will be structured and managed through Crypto.com’s U.S. broker-dealer arm, Foris Capital, ensuring compliance with U.S. regulatory requirements while also making them accessible to international investors. The funds will be available in major markets, including the U.S., Europe, and Asia, potentially broadening retail and institutional access to crypto investments.

Crypto.com will handle the backend infrastructure, custody services, and integration with its trading platform, giving over 140 million users access to these ETFs. Additionally, TMTG’s fintech arm, Truth.Fi, is set to launch separately managed investment accounts (SMAs) linked to these offerings. This move follows other Trump-backed crypto projects, including the TRUMP meme coin and World Liberty Financial’s USD1 stablecoin.

However, Trump’s dual role as both a businessman and a politician has already drawn much scrutiny for this project. 

‍

What Is Trump Media & Technology Group?

‍

TMTG is best known for running Truth Social, Trump’s social media platform launched as a response to mainstream networks banning him. The company is now expanding into fintech through Truth.Fi, a platform focused on financial services and blockchain. Since going public, TMTG has attracted both support and skepticism. Its latest venture into crypto ETFs reflects President Trump’s growing support for the Web3 space. 

‍

What Is Crypto.com?

‍

Crypto.com is one of the world’s largest crypto exchanges, boasting over 140 million users. It offers services like crypto trading, staking, and an NFT marketplace. It’s also known for high-profile marketing moves, such as sponsoring the FIFA World Cup and renaming the Staples Center in Los Angeles to the Crypto.com Arena. However, the exchange has also had its fair share of issues including partnering with Wirecard, a German payments company that collapsed in one of Europe’s biggest financial fraud scandals and failing to release an updated proof of reserves post 2022. 

‍

A Hidden Agenda?

One of the biggest controversies surrounding the Trump Media and Crypto.com partnership is the decision to reissue $7 billion worth of Cronos (CRO) tokens. These tokens were originally burned in 2021 as part of a deflationary strategy. Typically, burned tokens in crypto are meant to be permanently destroyed, reducing the total supply and potentially increasing the value of the remaining tokens. However, Crypto.com and its subsidiary Cronos Labs announced they would re-mint these tokens to help fund their ETF deal with Trump Media.

Another issue was that the majority of wallet holders was actually against the reissuance of the burned tokens. Nearly 80% of wallets voted against the proposal, but because they only controlled 20% of the total voting power, they were overruled by the whales (large token holders with massive voting power). Furthermore, another major red flag is the timing of the announcement. The vote to reissue the burned tokens was passed just days before the Trump Media and Crypto.com ETF partnership was revealed, leading some users to call it a “cash grab”.

This reissuance has led many to question the legitimacy of Crypto.com’s commitments. Critics argue that this sets a dangerous precedent, raising concerns about trust in the project. Trump himself also isn’t getting off scot-free. With him back in White House, some criticize that his pro-crypto policies are being shaped in ways that benefit his own investments.

‍

Implications

‍

Trump Media and Crypto.com’s partnership could have significant effects across the financial industry. On the positive side, the launch of these crypto-focused ETFs may help further legitimize digital asset investment, pushing crypto deeper into the mainstream. By working with Crypto.com’s established platform, the initiative could make crypto-backed financial products more accessible to traditional investors. Additionally, Trump’s growing support for crypto could signal a shift toward more crypto-friendly policies in America. 

‍

However, the deal also raises concerns. Some critics argue that his direct involvement in crypto presents a conflict of interest. Ethical and legal questions are already being raised about how his financial ventures might intersect with policymaking. Moreover, Crypto.com’s reputation is another point of contention. The exchange has a history of broken promises, such as its CRO token reissuance. 

‍

As the deal progresses, it remains to be seen whether this is a game-changing moment for crypto or more bad news for the space. One thing is certain, however. Crypto and policies are becoming more intertwined and it's our responsibility as investors to pay attention. It may just save our portfolios down the line!

‍