Latest news with #Crypto.com
Int'l Business Times
6 days ago
- Business
- Int'l Business Times
Trump Media Joins Crypto ETF Race with Bitcoin and Ethereum Fund Proposal
Virtual currencies Bitcoin, Ethereum, and Dogecoin placed on a pile of fake gold bars in Clermont-Ferrand France on March 25 2025. Trump Media & Technology Group (TMTG), the parent company of Truth Social, has filed a new proposal to launch a cryptocurrency exchange-traded fund (ETF) that includes both Bitcoin and Ethereum. According to a recent filing with the US Securities and Exchange Commission (SEC), the new ETF would be made up of 75% Bitcoin and 25% Ethereum. If approved, the fund would be listed on NYSE Arca and managed by Yorkville America Digital. Custody and trading would be handled by Foris DAX, known for operating This is the company's second ETF filing in less than two weeks. Its first was a Bitcoin-only fund. Trump Media's growing interest in crypto comes as the market becomes more competitive, with major firms like BlackRock and Fidelity already offering similar ETFs. ETF expert Bryan Armour said, "It will be a challenge for any new entrant in this market. The only way to stand out will be through fees or brand." The current filing does not mention a fee structure, though most Bitcoin ETFs charge about 0.12% yearly. Trump Media hasn't released any fee details yet, USA Today said. One unique detail is that the new ETF plans to hold three Bitcoin for every Ethereum token, based on the proposed structure. This mix gives investors access to both major cryptocurrencies in one product. — Marc In The Matrix⚡️🧠 (@MarcShawnBrown) June 16, 2025 Trump Media Eyes Retail Investors in Crypto ETF Push Sui Chung, CEO of CF Benchmarks, said the fund's standout feature might be how it's marketed. "Given Truth Social's involvement, it may very well be that these are marketed directly to individual investors." This ETF effort is part of Trump Media's broader push into digital finance. According to TechPortal , earlier in 2025, the company launched its platform, designed to offer products such as crypto trading, payments, and asset management. The firm also filed a trademark for TruthFi to expand into financial services. The push into crypto isn't just about ETFs. In January 2025, President Trump signed Executive Order 14178, which removed earlier crypto regulations and banned a US central bank digital currency (CBDC). Later, in March, the administration created a National Crypto Reserve that holds seized digital assets like Bitcoin, Ethereum, and XRP. In May 2025, Trump Media raised about $2.44 billion—$1.44 billion from stock sales and another $1 billion through convertible debt. The SEC also recently approved a plan for the company to invest up to $2.3 billion in Bitcoin through private investors. Originally published on © {{Year}} All rights reserved. Do not reproduce without permission.
Business Insider
6 days ago
- Business
- Business Insider
Trump Media is pushing deeper into crypto after filing to launch a bitcoin-ether ETF
Trump Media & Technology Group wants to launch an exchange-traded fund to invest in the two biggest cryptocurrencies. Donald Trump's media company filed documents with the Securities and Exchange Commission seeking approval of a new bitcoin and ether ETF on Monday, with the fund aiming to invest 75% of its assets in bitcoin and 25% in ethereum. will serve as the liquidity provider and prime execution agent of the ETF, the filing said. Trump Media has already partnered with in a deal that offers retail investors access to crypto investments on Truth Social, Trump's social media platform. The new ETF is the latest push by Trump and his family into the world of crypto. In May, Trump Media announced it would raise $2.5 billion to create a "Bitcoin treasury," which the firm said was to "expand its reach throughout the America First economy." "We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets," Devin Nunes, the CEO of Trump Media, said in a statement at the time. Meanwhile, World Liberty Financial, a digital assets firm backed by Trump and his sons, issued a new dollar-backed stablecoin earlier this year dubbed USD1. The flurry of crypto maneuvers has solidified a reputation Trump was aiming to cultivate while he campaigned for president. He secured the support of crypto investors on the campaign trail with promises of more favorable regulation and the creation of a national bitcoin stockpile. He's even dabbled in meme coins. In the days leading up to his inauguration, the president released a $TRUMP meme coin and promoted the crypto on his Truth Social account. In May, the president appeared at a private dinner in Washington, DC, for the top 220 investors in his meme coin.
Irish Examiner
7 days ago
- Business
- Irish Examiner
Crypto firm which switched HQ from Ireland to Malta poised to secure EU licence
Two of the world's largest cryptocurrency companies are poised to secure licences granting them access to operate across the European Union, as a rift grows among regulators over the speed and rigour of some countries' approvals, according to sources familiar with the matter. Under the EU's new Markets in Crypto-Assets (MiCA) regulation, which came into force earlier this year, member states can issue licences that allow crypto companies to operate throughout the 27-nation bloc, but some have raised concerns in closed-door meetings about the speed with which licences are being granted, two people familiar with those discussions said, asking not to be named because of the sensitivity of the matter. At stake is the oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could facilitate fraud, market instability, and illicit financial flows if it is not properly supervised. MiCA aims to bring crypto under the same regulatory umbrella as traditional finance, but some fear that uneven enforcement could undermine its goals. Gemini, a crypto trading platform founded by billionaire twins Tyler and Cameron Winklevoss, is on the verge of receiving a licence to operate from Malta, the smallest country in the European Union, two people said. This follows Malta's earlier approvals of OKX and granted within weeks of the new regime's introduction. Gemini launched Ireland as its European base, to much fanfare, in 2023, but in January 2025 moved its European operations from Ireland to Malta. The Winklevoss twins famously sued Facebook's Mark Zuckerburg accusing him of stealing their idea. Mr Zuckerburg countersued and the twins eventually dropped their lawsuit after agreeing a settlement believed to be in the region of €50m. The pace of Malta's approvals has drawn scrutiny from other national regulators, who meet under the umbrella of the European Securities and Markets Authority (ESMA). France's AMF has publicly warned that ESMA's lack of direct authority could lead to a "regulatory race to the bottom". Another senior regulatory official, who did not wish to be identified, said that they were concerned about accepting licences granted in countries where regulators had fewer staff, citing Malta as one example. ESMA has scrutinized Malta's licensing process, with a report due to be circulated in the near future, said one of those people. A spokesperson for the Malta Financial Services Authority said it had granted four crypto licences so far and was able to move fast due to its past experience, adding that "expedited processing" was due to its "in-depth understanding acquired over these years". It said its local money laundering standards were strict. ESMA declined to comment. OKX said its application was "rigorous" and that compliance was a priority. The regulatory debate has intensified with expectations that Luxembourg will soon grant a licence to Coinbase, the first US crypto-focused company to join the S&P 500, one of the people said. While the application has been in progress for several months, one person pointed to the relatively modest size of Coinbase's planned operation in Luxembourg. A Coinbase spokesperson did not comment on its application but said it employed 200 in Europe and that it invested in staff to ensure operations were safe. The spokesperson said Luxembourg was a "high-bar, well respected global financial centre" and that Coinbase would hire more than 20 people there by the end of the year. Luxembourg's financial watchdog declined to comment. One person familiar with Luxembourg's thinking dismissed any suggestion that the country was lax and said some critics were rather motivated by self interest in a race to attract crypto firms. Coinbase's anticipated approval is seen as a setback for Ireland, where relations with the crypto industry have cooled. In 2023, Central Bank Governor Gabriel Makhlouf compared crypto to a Ponzi scheme, warning that 'most of the time when you gamble, you're actually losing'. The global cryptocurrency market is currently valued at roughly €2.6tn but it has seen crises, such as the collapse and fraud of top US exchange FTX in 2022. The European Union has long had to contend with divergence between its members. The dispute is unfolding as European politicians consider granting greater powers to regulator ESMA. While the European Union is united as a trading bloc and writes much regulation centrally in Brussels, countries vie with each other to attract international businesses. ESMA head Verena Ross has also pushed publicly for more powers to oversee crypto, although one person familiar with discussions among EU politicians said several countries were sceptical.
The Star
13-06-2025
- Business
- The Star
Exclusive-Crypto giants set for EU green light amid growing regulatory rift, sources say
PARIS/FRANKFURT (Reuters) -Two of the world's largest cryptocurrency companies are poised to secure licences granting them access to operate across the European Union, as a rift grows among regulators over the speed and rigour of some countries' approvals, according to sources familiar with the matter. Under the EU's new Markets in Crypto-Assets (MiCA) regulation, which came into force earlier this year, member states can issue licences that allow crypto companies to operate throughout the 27-nation bloc, but some have raised concerns in closed-door meetings about the speed with which licences are being granted, two people familiar with those discussions said, asking not to be named because of the sensitivity of the matter. At stake is the oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could facilitate fraud, market instability and illicit financial flows if it is not properly supervised. MiCA aims to bring crypto under the same regulatory umbrella as traditional finance, but some fear that uneven enforcement could undermine its goals. Gemini, a crypto trading platform founded by billionaire twins Tyler and Cameron Winklevoss, is on the verge of receiving a licence to operate from Malta, the smallest country in the European Union, two people said. This follows Malta's earlier approvals of OKX and granted within weeks of the new regime's introduction. The pace of Malta's approvals has drawn scrutiny from other national regulators, who meet under the umbrella of the European Securities and Markets Authority (ESMA). France's AMF has publicly warned that ESMA's lack of direct authority could lead to a "regulatory race to the bottom". Another senior regulatory official, who did not wish to be identified, said that they were concerned about accepting licences granted in countries where regulators had fewer staff, citing Malta as one example. ESMA has scrutinized Malta's licensing process, with a report due to be circulated in the near future, said one of those people. A spokesperson for the Malta Financial Services Authority said it had granted four crypto licences so far and was able to move fast due to its past experience, adding that "expedited processing" was due to its "in-depth understanding acquired over these years". It said its local money laundering standards were strict. ESMA declined to comment. OKX said its application was "rigorous" and that compliance was a priority. SELF INTEREST? The regulatory debate has intensified with expectations that Luxembourg will soon grant a licence to Coinbase, the first U.S. crypto-focused company to join the S&P 500, one of the people said. While the application has been in progress for several months, one person pointed to the relatively modest size of Coinbase's planned operation in Luxembourg. A Coinbase spokesperson did not comment on its application but said it employed 200 in Europe and that it invested in staff to ensure operations were safe. The spokesperson said Luxembourg was a "high-bar, well respected global financial centre" and that Coinbase would hire more than 20 people there by the end of the year. Luxembourg's financial watchdog declined to comment. One person familiar with Luxembourg's thinking dismissed any suggestion that the country was lax and said some critics were rather motivated by self interest in a race to attract crypto firms. Coinbase's anticipated approval is seen as a setback for Ireland, where relations with the crypto industry have cooled. In 2023, Central Bank Governor Gabriel Makhlouf compared crypto to a Ponzi scheme, warning that 'most of the time when you gamble, you're actually losing.' The global cryptocurrency market is currently valued at roughly $3.3 trillion but it has seen crises, such as the collapse and fraud of top U.S. exchange FTX in 2022. The European Union has long had to contend with divergence between its members. The dispute is unfolding as European politicians consider granting greater powers to regulator ESMA. While the European Union is united as a trading bloc and writes much regulation centrally in Brussels, countries vie with each other to attract international businesses. ESMA head Verena Ross has also pushed publicly for more powers to oversee crypto, although one person familiar with discussions among EU politicians said several countries were sceptical. (Reporting by Elizabeth Howcroft in Paris and John O'Donnell in Frankfurt, additional reporting by Hannah Lang in New York; Editing by Elisa Martinuzzi and Louise Heavens)
Yahoo
13-06-2025
- Business
- Yahoo
Exclusive-Crypto giants set for EU green light amid growing regulatory rift, sources say
By Elizabeth Howcroft and John O'Donnell PARIS/FRANKFURT (Reuters) -Two of the world's largest cryptocurrency companies are poised to secure licences granting them access to operate across the European Union, as a rift grows among regulators over the speed and rigour of some countries' approvals, according to sources familiar with the matter. Under the EU's new Markets in Crypto-Assets (MiCA) regulation, which came into force earlier this year, member states can issue licences that allow crypto companies to operate throughout the 27-nation bloc, but some have raised concerns in closed-door meetings about the speed with which licences are being granted, two people familiar with those discussions said, asking not to be named because of the sensitivity of the matter. At stake is the oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could facilitate fraud, market instability and illicit financial flows if it is not properly supervised. MiCA aims to bring crypto under the same regulatory umbrella as traditional finance, but some fear that uneven enforcement could undermine its goals. Gemini, a crypto trading platform founded by billionaire twins Tyler and Cameron Winklevoss, is on the verge of receiving a licence to operate from Malta, the smallest country in the European Union, two people said. This follows Malta's earlier approvals of OKX and granted within weeks of the new regime's introduction. The pace of Malta's approvals has drawn scrutiny from other national regulators, who meet under the umbrella of the European Securities and Markets Authority (ESMA). France's AMF has publicly warned that ESMA's lack of direct authority could lead to a "regulatory race to the bottom". Another senior regulatory official, who did not wish to be identified, said that they were concerned about accepting licences granted in countries where regulators had fewer staff, citing Malta as one example. ESMA has scrutinized Malta's licensing process, with a report due to be circulated in the near future, said one of those people. A spokesperson for the Malta Financial Services Authority said it had granted four crypto licences so far and was able to move fast due to its past experience, adding that "expedited processing" was due to its "in-depth understanding acquired over these years". It said its local money laundering standards were strict. ESMA declined to comment. OKX said its application was "rigorous" and that compliance was a priority. SELF INTEREST? The regulatory debate has intensified with expectations that Luxembourg will soon grant a licence to Coinbase, the first U.S. crypto-focused company to join the S&P 500, one of the people said. While the application has been in progress for several months, one person pointed to the relatively modest size of Coinbase's planned operation in Luxembourg. A Coinbase spokesperson did not comment on its application but said it employed 200 in Europe and that it invested in staff to ensure operations were safe. The spokesperson said Luxembourg was a "high-bar, well respected global financial centre" and that Coinbase would hire more than 20 people there by the end of the year. Luxembourg's financial watchdog declined to comment. One person familiar with Luxembourg's thinking dismissed any suggestion that the country was lax and said some critics were rather motivated by self interest in a race to attract crypto firms. Coinbase's anticipated approval is seen as a setback for Ireland, where relations with the crypto industry have cooled. In 2023, Central Bank Governor Gabriel Makhlouf compared crypto to a Ponzi scheme, warning that 'most of the time when you gamble, you're actually losing.' The global cryptocurrency market is currently valued at roughly $3.3 trillion but it has seen crises, such as the collapse and fraud of top U.S. exchange FTX in 2022. The European Union has long had to contend with divergence between its members. The dispute is unfolding as European politicians consider granting greater powers to regulator ESMA. While the European Union is united as a trading bloc and writes much regulation centrally in Brussels, countries vie with each other to attract international businesses. ESMA head Verena Ross has also pushed publicly for more powers to oversee crypto, although one person familiar with discussions among EU politicians said several countries were sceptical. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
