Latest news with #Crypto.com's
Yahoo
04-06-2025
- Business
- Yahoo
U.S. President Donald Trump's Social Media Firm Truth Social To Launch Spot Bitcoin ETF
NYSE Arca, which is part of the New York Stock Exchange, has filed paperwork with the Securities and Exchange Commission (SEC) to launch a fund issued by U.S. President Donald Trump's media company Truth Social. On Tuesday, the exchange filed a 19b-4 document with the SEC for a fund that would track the price of bitcoin BTC, similar to the already existing spot bitcoin exchange-traded funds (ETFs). The filing was made on behalf of crypto asset manager Yorkville America Digital, which is a partner of Trump Media & Technology Group, the owner of Truth Social. The custodian for the fund, if approved, would be Foris DAX Trust Company, which also serves as the custodian for assets. A 19b-4 filing is required to be filed by self-regulatory organizations (SROs) to propose a rule change. A second document by the issuer, called the S-1, is also required to make the proposal official. The fund would trade under the name Truth Social Bitcoin ETF, according to the 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
NBC News
27-05-2025
- Business
- NBC News
Trump Media says it's raising $2.5 billion to buy bitcoin
LAS VEGAS — Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company. Shares of the company fell about 10% following the news. It's the latest and most ambitious move in its evolution from a free-speech social platform to a financial services player. The deal includes $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset. the company said it has subscription agreements with about 50 institutional investors. The company also confirmed the bitcoin will be held with Anchorage Digital and — the same platform that recently inked a deal to help Trump Media launch its first exchange-traded funds. The announcement comes as bitcoin nears record highs and the year's biggest gathering of digital asset enthusiasts gets underway on the Las Vegas Strip: Bitcoin 2025. The conference helped solidify President Donald Trump 's image as the country's first ' crypto president.' This year, it's a full-court press from the Trump White House at the conference, with Vice President JD Vance, Don and Eric Trump, crypto czar David Sacks, and other top officials all attending. Trump Media's stock remains volatile, with shares down nearly 30% this year so far. The company has a market cap of about $5.3 billion, despite reporting just $3.6 million in revenue and a $400 million loss in 2024. Trump indirectly owns more than 114 million shares of Trump Media through a revocable trust. Devin Nunes, the company's CEO and a former California congressman, called bitcoin an 'apex instrument of financial freedom' and said this was just the first of many 'crown jewel' acquisitions the firm would pursue. He framed the move as a defensive strategy, saying it would help protect the company from what he described as ongoing 'discrimination by financial institutions' against conservative businesses. The firm has already inked a partnership with to bring a series of ETFs and digital asset products to market later this year, pending regulatory approval. Those funds will include baskets of crypto like bitcoin and native token, cronos, alongside traditional securities. They will be branded under Trump Media and offered to global investors across major brokerage platforms and on the app, which has more than 140 million users worldwide. The move deepens Trump's crypto footprint: World Liberty Financial, another Trump-affiliated entity, has already amassed a significant crypto stockpile, and the president signed an executive order earlier this year designed to establish a bitcoin reserve and a separate crypto stockpile for the federal government. The expansion into financial services builds on rising Republican anger over perceived banking discrimination against conservatives. Crypto industry leaders have also been testifying on Capitol Hill about the industry's struggle with debanking during President Joe Biden' s administration. Trump himself voiced frustration with Bank of America and JPMorgan executives during a recent appearance at the World Economic Forum in Davos, accusing them of 'locking out' conservative clients. The launch of along with the growing popularity of Trump-linked cryptocurrencies, appears to be the private sector response. The $2.5 billion bitcoin treasury move also follows a growing trend among politically-aligned businesses that are converting their corporate treasuries into bitcoin-heavy vehicles. It's a strategy popularized by Michael Saylor's MicroStrategy in 2020 — but now turbocharged by Trump's political movement and crypto allies. Jack Mallers is looking to rival Strategy with a new bitcoin company backed by Tether and SoftBank, and David Bailey, the architect behind another Trump-linked bitcoin play — Nakamoto Holdings — recently led a $710 million merger with healthcare firm KindlyMD, which will pivot from holistic opioid recovery to a crypto-first strategy. Bailey, a trusted crypto advisor to the Trump administration, described the play as: 'Strategy, squared.' 'Our total focus is on increasing the bitcoin per share,' Bailey previously told CNBC, outlining plans to acquire bitcoin-native companies across every major capital market.
CNBC
27-05-2025
- Business
- CNBC
DJT shares fall 10% as Trump Media says it's raising $2.5 billion to buy bitcoin
LAS VEGAS — Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company. Shares of the company fell about 10% following the news. It's the latest and most ambitious move in its evolution from a free-speech social platform to a financial services player. The deal includes $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset. the company said it has subscription agreements with about 50 institutional investors. The company also confirmed the bitcoin will be held with Anchorage Digital and — the same platform that recently inked a deal to help Trump Media launch its first exchange-traded funds. The announcement comes as bitcoin nears record highs and the year's biggest gathering of digital asset enthusiasts gets underway on the Las Vegas Strip: Bitcoin 2025. The conference helped solidify President Donald Trump's image as the country's first "crypto president." This year, it's a full-court press from the Trump White House at the conference, with Vice President JD Vance, Don and Eric Trump, crypto czar David Sacks, and other top officials all attending. Trump Media's stock remains volatile, with shares down nearly 30% this year so far. The company has a market cap of about $5.3 billion, despite reporting just $3.6 million in revenue and a $400 million loss in 2024. Trump indirectly owns more than 114 million shares of Trump Media through a revocable trust. Devin Nunes, the company's CEO and a former California congressman, called bitcoin an "apex instrument of financial freedom" and said this was just the first of many "crown jewel" acquisitions the firm would pursue. He framed the move as a defensive strategy, saying it would help protect the company from what he described as ongoing "discrimination by financial institutions" against conservative businesses. The firm has already inked a partnership with to bring a series of ETFs and digital asset products to market later this year, pending regulatory approval. Those funds will include baskets of crypto like bitcoin and native token, cronos, alongside traditional securities. They will be branded under Trump Media and offered to global investors across major brokerage platforms and on the app, which has more than 140 million users worldwide.
CairoScene
14-05-2025
- Business
- CairoScene
Crypto Payments Will be Accepted by Dubai Government Services
Once technical preparations are complete, users will be able to pay everything from licensing to visa fees in crypto. May 13, 2025 The government of Dubai will begin accepting cryptocurrency for public service payments, following a new partnership between the Department of Finance and Announced during the Dubai FinTech Summit, the agreement enables individuals and businesses to settle fees- such as licensing or visa costs- using stablecoins via platform. Licensed by Dubai's Virtual Assets Regulatory Authority, the platform will convert crypto payments into dirhams before transferring them to government accounts, aligning with the city's Cashless Strategy and broader D33 economic agenda. The move is a step in reshaping public finance infrastructure and embedding digital assets into daily governance, with a target of making over 90% of public and private transactions cashless by 2026.
Zawya
15-04-2025
- Business
- Zawya
Ammar bin Humaid receives Group President of Crypto.com
Ajman, United Arab Emirates – His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, received Eric Anziani, Group President and COO of one of the world's largest digital asset platforms. As the meeting started, His Highness praised the prominent position as one of the world's leading institutions in fintech and digital economy. Sheikh Ammar affirmed Ajman's commitment to strengthening partnerships with leading companies in cutting-edge technologies, in line with its vision for digital transformation and further enhancing the performance of the emirate's vital sectors. The meeting encompassed several discussions pertaining to developing digital infrastructure and exploring potential strategies to deploy expertise in financial innovation and digital currency trading. The discussion addressed the importance of leveraging data and modern technologies to support the business ecosystem and boost the digital economy, in line with Ajman Vision 2030, which aims to build an advanced digital future that enhances the quality of services provided in the emirate. During the meeting, His Highness Sheikh Ammar emphasized the instrumental role of the private sector as a strategic partner in the development process, highlighting that the private sector contributes a fundamental pillar to the emirate's innovation and economic growth. His Highness the Crown Prince of Ajman was briefed on the company's most prominent projects and regional experiences, particularly in the Gulf region, and its anticipated role in supporting government and private institutions in adopting advanced digital solutions that contribute to the development of services and enhance readiness for future transformations. For his part, Mr. Eric Anziani expressed his sincere gratitude and appreciation for the warm welcome, commending the forward-looking vision adopted by the Emirate of Ajman in the field of modern technology. He affirmed enthusiasm to support the emirate's plans for digital transformation through innovative projects and initiatives that align with future requirements. Ajman continues to consolidate its position as a regional center for innovation, launching a range of smart projects and providing a stimulating legislative environment that reflects the synergy between the leadership's vision and the entrepreneurial spirit that characterizes both the public and private sectors. The meeting was attended by Sheikh Rashid bin Ammar bin Humaid Al Nuaimi, Vice President of Ajman Sports Club; His Excellency Dr. Marwan Obaid Al Muhairi, Director General of the Emiri Court in Ajman; His Excellency Yousef Al Nuaimi, Director General of the Department of Protocol and Hospitality; Mohammed Al Hakeem, Regional Director of in the Middle East; and a number of senior officials in the emirate, along with representatives of the company. About the Government of Ajman Media Office Established under the visionary leadership of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman, the Ajman Media Office was established to enhance Ajman's global media footprint and solidify its strategic influence. The Office plays a central role in promoting transparency by providing reliable and accessible information on government projects and initiatives. It showcases Ajman's innovative spirit and achievements, supporting its progress and strategic ambitions. With a sustainable and dynamic media policy, the Office enables seamless navigation of the rapidly changing media landscape. The Office is the architect behind a comprehensive government media ecosystem, crafting and executing media policies and strategies that embody our nation's core values, amplify our national identity, and solidify our position as a global media leader. Serving as the central hub for media engagement, the Office also delivers impactful projects and initiatives, ensuring local and international outlets are provided with timely and accurate news, event coverage, and insights into government achievements. Beyond delivering information, the Office is dedicated to fostering knowledge and enhancing community understanding of the UAE's governmental advancements and transformative projects. The Office also streamlines and oversees media content related to local government initiatives across various domains, ensuring alignment and consistency that reflect the vision and aspirations of Ajman, enhancing its esteemed reputation both nationally and internationally.
