Donald Trump and his companies are making waves in the crypto world, highlighted by a new agreement with Crypto.com to develop ETFs and the release of the USD1 stablecoin. Concurrently, Kraken is gearing up for a potential IPO.
Trump's Agreement with Crypto.com
Trump Media & Technology Group (TMTG) has signed a non-binding agreement with Crypto.com to launch a series of exchange-traded funds (ETFs) focusing on 'Made in America' digital assets. These ETFs are in the development phase and await regulatory approval. The planned ETFs are expected to feature crypto assets like Bitcoin, Ethereum, and others, and will be available via the Crypto.com app globally.
Stablecoin Launch by World Liberty Financial
Donald Trump-backed World Liberty Financial recently launched a US dollar-pegged stablecoin called USD1, which is currently not available for trading despite being deployed on the BNB Chain and Ethereum. This aligns with ongoing regulatory discussions in the U.S. Congress regarding stablecoins. World Liberty Financial's activities face scrutiny due to Trump's political affiliations.
Kraken Prepares for IPO with Major Fundraise
Kraken, one of the largest cryptocurrency exchanges, is planning a significant capital raise in advance of a possible IPO in 2026. The company is in discussions to raise between $200 million and $1 billion, intended for growth rather than operational expenses. This move is influenced by a more favorable regulatory environment following Donald Trump's presidency, perceived as supportive of crypto businesses.
Cryptocurrency initiatives continue to draw attention from both private companies and political figures, facing regulatory and public scrutiny. These efforts offer new opportunities but also carry significant political and regulatory risks.
