Trump Media (TMTG) and cryptocurrency exchange Crypto.com have entered a joint partnership to offer ETFs and ETPs in the near future.

According to Trump Media & Technology Group, the two companies will launch exchange-traded funds via the Truth.Fi brand with Crypto.com’s broker-dealer Foris Capital.

ETFs will have a Made in America focus and focus on a wide range of industries including crypto and energy companies. The news comes as Crypto.com’s Cronos CRO token increases its supply by 70B after previously burning that supply “forever.”

Crypto.com to issue ETFs with Trump Media & Technology

Crypto.com’s partnership with Trump Media came as a surprise to many as the two companies aim to release a range of ETFs and ETPs focused on various industries.

According to recent reports, the partnership will launch cryptocurrency ETFs this year consisting of a basket of cryptos including Bitcoin. Crypto.com will reportedly handle custody and the backend crypto supply of the ETFs.

Once regulatory approval has been confirmed, the ETFs will be released in Europe, the United States, and Asia on brokerages and exchanges. 

From Crypto.com CEO Kris Marszalek:

These ETFs will give consumers more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com app for our more than 140 million users around the world

The exchange’s own cryptocurrency, CRO, may also be included in the upcoming crypto ETF basket. Like Binance’s BNB token, Crypto.com’s CRO token can be used for trading discounts and for staking rewards. 

Since the announcement of their Trump partnership, Crypto.com reissued 70B Cronos (CRO) tokens, diluting the token’s supply after previously promising investors that 70B tokens had been burned forever. 

ZachXBT calls out Crypto.com over 70B Cronos (CRO) reissue

Crypto investigator ZachXBT pointed out that Crypto.com went against their previous statements and re-issued 70 billion tokens, reversing a token burn from 2021.

ZachXBT said “CRO is no different from a scam,” after the exchange ignored their statements. Critics have called out Cyrpto.com for retracing their promises made in 2021. 

Crypto.com CEO Kris Marszalek responded to ZachXBT saying the burn from 2021 was “a defensive move”:

The original token burn from Q1 2021 was a defensive move. At that point in time, it made a lot of sense. Now we have strong support from the new administration, the war on crypto is over.

Many investors have claimed the token re-issuance was done without properly consulting token holders who have governance rights. 

Reports from Laura Shin’s Unchained sources claim that Crypto.com represents 70% of Cronos’s validators, making the token more centralized than decentralized. 

Crypto.com’s 70B token burn blog post has since been deleted. On Twitter/X, criticism from the crypto community came after Kris Marszalek said the firm made $1.5 billion in revenue throughout 2024 yet still reissued 70B tokens. 

Since pointing out Crypto.com’s token reissuance, Kris Marszalek has blocked ZachXBT on X/Twitter.