by Samantha Davis -
Published on 22 April 2025 00:00 GMT
Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, is taking a significant step toward becoming a player in the financial services industry. The company announced Tuesday that it has signed a binding agreement with Crypto.com and a newly established Florida-based investment firm, Yorkville America Digital, to launch a series of exchange-traded funds (ETFs) aimed at retail investors.
This strategic pivot reflects Trump Media’s ongoing efforts to diversify revenue streams after struggling to monetize its core social media platform through advertising. With the ETF market booming and retail interest in digital assets remaining high, TMTG sees an opportunity to blend its brand with the growing world of crypto investing.
The agreement aligns TMTG with Crypto.com, a global digital asset trading platform boasting over 140 million users, and Yorkville America Digital, an affiliate of Yorkville Advisors—a New Jersey-based investment firm known for backing small-cap public companies. Together, the parties plan to roll out crypto-centric investment products by the end of the year.
Devin Nunes, CEO of Trump Media and a former Republican congressman, called the deal a "major step forward in diversifying TMTG into financial services and digital assets." The initiative marks the company’s most aggressive move yet beyond social media and into the rapidly evolving fintech space.
Yorkville America Digital was incorporated in Florida this month, further solidifying the relationship between Trump Media and Yorkville’s network of investment entities. Trump Media already has a financial link to Yorkville via a standing “equity line of credit,” a financing arrangement that allows Yorkville to purchase shares of TMTG at a discount. So far, the firm has acquired over 17 million shares under this deal.
The new venture will be advised by law firm Davis Polk & Wardwell. Notably, Trump has recently criticized major law firms for what he describes as ideological bias, making this collaboration with an elite firm a particularly interesting development.
Regulatory Landscape Favors the Move
While the proposed ETFs and other investment products will still need to secure approval from the Securities and Exchange Commission (SEC), Trump-friendly leadership at the agency may ease the regulatory path. Under Chairman Paul Atkins—nominated by Trump—the SEC has taken a more lenient stance toward crypto. One of its early actions following Trump’s return to office was dropping multiple lawsuits against crypto firms, including a now-closed investigation into Crypto.com.
Trump Media, one of the former president’s largest investments, remains central to his financial portfolio. Trump owns about 53 percent of the company, or roughly 115 million shares, which are now held in a trust managed by his son Donald Jr., a TMTG board member. The stake is currently valued at approximately $2.7 billion.
Markets responded favorably to the announcement. Trump Media’s stock was up nearly 5 percent in midday trading on Tuesday, rising to $23.59. However, it remains down 31 percent for the year, reflecting broader skepticism about the company’s long-term growth prospects.
The push into crypto-backed ETFs marks a bold, if unconventional, evolution for Trump Media. With Donald Trump now back in the White House, TMTG is clearly betting that political power and a high-profile brand can fuel success in an entirely new industry—one where regulation, innovation, and public sentiment are in constant flux.
As the firm gears up for its first financial product launches, investors and critics alike will be watching closely to see if Trump Media can truly become more than a megaphone—and turn into a serious player in fintech.