Posted on 06/06/2025 12:12:56 PM PDT by E. Pluribus Unum
Trump Media and Technology (DJT) took a key step toward launching a publicly traded crypto investment product Thursday morning.
The newly formed Truth Social Bitcoin ETF business trust filed its S-1 with the US Securities and Exchange Commission to register the new exchange-traded fund licensing Trump Media's social media brand. The ETF will trade on the NYSE Arca.
Thursday's filing is a significant step for Trump Media's move into the cryptocurrency space.
The media company, of which President Trump is a majority stakeholder, announced in January it was expanding into financial services and would offer investment products through a newly created fintech platform, Truth.Fi.
Last week, Trump Media said it will spend $2.32 billion to create a bitcoin treasury, issuing equity to fund the initiative. The move follows the trend of companies across various sectors adding bitcoin to their balance sheets to try to replicate the success of crypto advocate Michael Saylor's company Strategy.
The Trump administration has ushered in a friendlier stance toward cryptocurrency than that of Trump's predecessor, President Biden.
Trump announced the creation of a national strategic bitcoin reserve earlier this year. The president appointed venture capitalist David Sacks to a newly created White House role of crypto czar, and his pick for SEC chair is well-known crypto lawyer Paul Atkins. Under Trump's administration, the Atkins-led SEC dropped investigations into Coinbase (COIN), Robinhood (HOOD), and other crypto firms as Trump looks to reverse the Biden-era clampdown on fraud in the sector.
(Excerpt) Read more at finance.yahoo.com ...
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Trump’s team (especially Vance) are getting a little too close with the tech bros. I consider crypto to be nothing more than digital fiat. Don’t like what’s happening with Palantir either.
I sold my “tulips” long before they reached their current elevated valuations.
Yup, crypto is nonsense and a danger to actual currency. Water is a safer investment.
AI is just regurgitating data it is fed.
Quantum computing will try every possible encryption key virtually instantly. That's the end of cryptocurrency and any kind of ecommerce activity, including Amazon.
He’s made 3 billion since taking office mainly from crypto. No other president has been so successful in improving their net worth. Biden may have been second but at a measly 30 million or so.
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