All articles tagged with #cryptocom
Trump Media and Technology Group announced a partnership with Crypto.com to distribute digital tokens to shareholders, aiming to enhance shareholder engagement and leverage blockchain technology, amidst the company's broader efforts to promote cryptocurrency adoption and diversify its business portfolio.
Trump Media Group is planning to launch a new cryptocurrency token in partnership with Crypto.com, aiming to expand its digital presence and offerings.
Trump Media and Crypto.com have announced a deal with a SPAC to create a new crypto venture focused on accumulating the platform's native token CRO, following a strategy similar to MicroStrategy's bitcoin holdings, and going public on Nasdaq. The move reflects growing corporate interest in crypto treasury strategies, with the CRO token surging after the announcement.
Trump Media Group is involved in a $6 billion deal to purchase Crypto.com tokens, highlighting a significant move in the intersection of media and cryptocurrency investments.
Trump Media Group is partnering with Yorkville Acquisition Corp. and Crypto.com to create the CRO Strategy, a digital asset treasury focused on acquiring and managing CRO tokens of the Cronos ecosystem, backed by significant funding including $200 million in cash, a $5 billion credit line, and over 6 billion CRO tokens, aiming to establish a leading position in the digital asset market and integrate with the U.S. financial system.
Trump Media & Technology Group filed with the SEC to launch the Truth Social Bitcoin ETF, which would primarily hold Bitcoin and be managed by Crypto.com, pending regulatory approval. The ETF aims to reflect Bitcoin's performance and includes exclusive services and potential front-running provisions, raising questions about conflicts of interest.
Trump Media has filed a registration statement with the SEC for a Bitcoin ETF called Truth Social Bitcoin ETF, which will hold Bitcoin directly and be listed on NYSE Arca, with Crypto.com as the custodian. The launch is pending SEC approval and registration effectiveness.
Trump Media and Technology Group plans to raise $3 billion through an equity and convertible bond offering to invest in crypto assets, potentially announcing at the Bitcoin 2025 event, following a trend among public companies adopting cryptocurrencies like Bitcoin for their balance sheets.
Crypto.com has become a prominent name in the cryptocurrency world through aggressive marketing and high-profile sponsorships, yet it remains relatively obscure in the American market. Despite its global user base and significant advertising spend, it has managed to avoid the regulatory scrutiny faced by competitors like Coinbase and Binance. The company, originally founded in Hong Kong and now headquartered in Singapore, continues to push for brand awareness while maintaining a low profile in the U.S. regulatory landscape.
Crypto.com CEO Kris Marszalek anticipates a surge in Bitcoin sales leading up to the upcoming 'halving' event, which is expected to decrease the new supply of Bitcoin and potentially boost its price. Despite uncertainties and potential selling due to trading strategies, Marszalek remains confident that the 'halving' event will have a substantial positive impact on the market over a longer period. The introduction of Bitcoin ETFs has been projected to potentially drive Bitcoin's price to surpass that of gold, and despite recent price fluctuations, some experts remain optimistic about Bitcoin's future.
BlackRock's application for a Bitcoin spot ETF to the SEC has caused a surge in Bitcoin prices, while Ethereum's proposal to increase the stake needed to be a network validator has been met with skepticism. Crypto sleuth ZachXBT faces harassment as supporters rally around his legal defense fund. Ripple expands globally due to the SEC's crackdown on domestic blockchain companies. Singapore-based exchange Crypto.com makes inroads in Europe. President Biden emphasizes the importance of safeguarding privacy and addressing bias and disinformation in the face of technological change.
Crypto.com is shutting down its institutional exchange in the US, affecting about 400 customers, but its name will remain on the downtown Los Angeles arena that is home to the Lakers, Clippers, Kings, and Sparks. The company's app, which has multiple millions of users, will continue to serve small investors. Crypto.com purchased the naming rights to the arena for $700 million in 2021 for 20 years.
The naming rights for Crypto.com Arena in Los Angeles will not be affected by the closure of Crypto.com's institutional exchange service for US customers, according to the company. The shutdown, which affects less than 400 entities, will not impact the company's retail trading app, which serves a large number of its more than 80 million users. Crypto.com entered a $700 million naming rights agreement in 2021 with AEG, the owner and operator of the arena known for years as the Staples Center.
Crypto.com will shut down its institutional service for American clients on June 21 due to limited demand from institutions in the US market. The decision will not impact its retail app used by more than 80 million users worldwide. The move comes as the US becomes an increasingly difficult place for crypto companies to do business, with the SEC suing major crypto exchanges Binance and Coinbase this week and its Chairman hinting that digital asset companies weren't welcome.
Crypto.com will no longer offer services to institutional clients in the U.S. due to limited demand in the current market landscape. Retail investors will not be affected by this decision, and can continue to use the platform, including Crypto.com's CFTC-regulated UpDown Options.