Crypto.com has announced a strategic partnership with Trump Media & Technology Group (TMTG) and Yorkville America to roll out a series of exchange -related funds (ETFs).
The initiative, unveiled On March 24, TMTG brand introduces ETFs that combine digital and traditional assets.
ETF Move
These products will have a crypto-heavy ETF basket, including Bitcoin, Crypto.com’s Native Cronos (CRO) token and other digital currencies.
Crypto.com will offer backend technology and storage services through its American trust company as part of the deal. It will also handle the range of crypto assets for the ETFs, which will be sold through his affiliated broker dealer, Foris Capital US LLC.
The CEO of Crypto.com, Kris Marszalek, expressed optimism about the move and emphasized the potential of users to get wider crypto -exposure through trusted branding. He confirmed that as soon as the products have been approved, they will be available in the crypto.com app for users in eligible regions.
Truth Social, a TMTG subsidiary, is expected to submit the necessary ETF paper work to the US Securities and Exchange Commission (SEC).
These products would mark another crypto-related adventure of the US President Donald Trump if approved. In recent years, Trump-Lieden entities have released various NFT collections and recently unveiled a Defi project called World Liberty Financial (WLFI).
Community Backlash
Researcher of the chain asked Zachxbt questions about why TMTG Crypto.com would choose if partner for his ETF Moves about better established and more transparent trade fairs such as Coinbase, Kraken or Gemini in the light of the recent CRO offering trovers.
In the past week, Crypto.com was severely criticized for reissue 70 billion CRO tokens that were initially burned in 2021.
On March 25, Zachxbt criticized The movement, which calls it a betrayal of decentralization and transparency. He claimed that the re-issued amount was good for 70% of the total supply of CRO-Sparmerkering problems about centralization and dilution in the long term.
According to him:
“CRO is no different than a scam. Just a week ago, your team re -spent 70b CRO that was previously burned ‘Forever’ in 2021 (70% total stock) and went against the wishes of the community while checking most of the delivery.”
Marszalek, however, defended the decision during a March 25 AmaClaims that the reissue changes changing political tides and increased institutional support for crypto.
He described the original combustion as a strategic choice during a more challenging regulation era and established the new issue if necessary for long -term growth.
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