Trump Media plans "Made in America" digital asset ETFs with Crypto.com, boosting CRO's trading volume.

Crypto.com faces accusations of a secret 70 billion CRO token re-issue, sparking scam allegations and investor skepticism. Despite initial price surge

Trump Media is planning to launch exchange-traded funds (ETFs) and other digital asset products in partnership with Crypto.com. The initiative will focus on “Made in America” cryptocurrencies and is set to launch later this year, pending regulatory approval.

This partnership marks yet another step in President Trump’s growing involvement in the crypto world, following his Trump-branded NFTs, plans for a crypto-focused bank, and involvement in memecoins.

The news has sent trading volumes for Cronos (CRO) soaring by 1300%, reaching $278 million in 24 hours. However, the partnership has also sparked controversy over a secret 70 billion CRO token re-issuance, which has led to accusations of a scam and skepticism from investors.

Despite an initial 35% price surge, analysts warn of a potential pump-and-dump scenario as the hype surrounding the Trump Media partnership may not last.

What Happened: As reported by Benzinga earlier, Trump Media & Technology Group, Inc. (NASDAQ: TMZG) is planning to launch ETFs and ETPs tied to U.S.-backed digital assets, including Bitcoin and CRO, in partnership with Crypto.com.

The project, which is still pending regulatory approval, will see the two companies collaborate on a joint venture to develop and launch a series of ETFs and ETPs. The ETFs will be focused on "Made in America" cryptocurrencies, aiming to provide investors with diversified exposure to the burgeoning digital asset class.

The partnership follows Trump’s foray into the NFT space with his own collection, and his involvement in memecoins such as Trumpcoin and the Trump Token.

Earlier this year, Trump also expressed interest in starting his own bank that would offer crypto-related products and services.

Why It's Important: The partnership between Trump Media and Crypto.com is a significant development in the crypto world. It could open up new investment opportunities for retail investors and expand the reach of digital assets in the mainstream financial markets.

However, the partnership has also faced skepticism from some investors, who are concerned about the timing of the re-issuance and the implications for trust in the cryptocurrency market.

“[CRO] is no different from a scam at this point. It’s clear that they’ve been lying to users and purposely manipulating the market,” blockchain investigator ZachXBT said.

"They’re recirculating 70 billion CRO just weeks before announcing a partnership with Trump Media and pivoting to an ETF strategy, after months of community backlash and members threatening to leave the ecosystem."

The interviewer pointed out that the new CRO tokens were supposed to be permanently burned in 2021, leaving only 30 billion tokens in circulation.

"This is a blatant act of deception, especially considering the new Trump partnership is meant to attract a broader audience to the CRO chain."

Cro Integrates Trump Media In a Series of ETFs and Other Digital Asset Products

The partnership will see the two companies come together in a joint venture to develop and launch a series of ETFs and ETPs to be offered later this year, pending regulatory approval.

The ETFs will be branded by Trump Media and focus on “Made in America” cryptocurrencies, aiming to provide investors with diversified exposure to the burgeoning digital asset class.

The ETFs will be listed on major U.S. exchanges, with the first ETF expected to be an ETP for Bitcoin, the world’s largest cryptocurrency.

The partnership is part of Trump Media’s broader strategy to expand its offerings and reach new audiences. The company is also developing a new streaming service and a social media platform.

"We are excited to partner with Trump Media to bring innovative and high-quality digital asset products to investors," said Jian Ming Tan, co-founder and CEO of Crypto.com. "This partnership is a natural progression of our shared commitment to providing cutting-edge financial products and technologies."

"We are pleased to partner with Crypto.com to develop and launch these groundbreaking ETFs," added Trump Media CEO, Steven Mnuchin. "This partnership will introduce Trump Media’s vast audience to the exciting world of crypto and provide investors with unique investment opportunities."

The partnership is still pending regulatory approval and further details about the ETFs will be announced at a later stage.

See More: Best Cryptocurrency Scanners

handles on X (formerly Twitter) : @trumpmedia , @cryptocom , @zachxbt , @Crypto_Rexy , @CoinBaron_

Read More: President Trump Announces Plans For Crypto-Focused Bank, Signals Involvement In New Token Projects

handles on X (formerly Twitter) : @trumpmedia , @cryptocom , @zachxbt , @Crypto_Rexy , @CoinBaron_