Trump Media shares soar on news of deal with trading giant

Group 1 - Shares in Trump Media and Technology Group increased by 5.7% following the announcement of a deal with Crypto.com to launch exchange-traded funds (ETFs) [1][5] - The ETFs will focus on "Made in America" products across various industries, including energy, and are expected to launch later this year pending regulatory approvals [1][4] - Prior to the announcement, Trump Media's shares had declined approximately 40% due to concerns over potential tariffs and disappointing earnings, reporting $3.6 million in revenue and a $400 million loss for 2024 [2] Group 2 - The partnership with Crypto.com will provide backend technology and cryptocurrencies for the ETFs, which will include Bitcoin, Cronos, and other cryptocurrencies [3] - The funds will be marketed under Trump Media's fintech brand, Truth.Fi, and will be available internationally, including in the US, Europe, and Asia [4][6] - Additionally, World Liberty Financial, a crypto project associated with Trump, announced the launch of a stablecoin called USD1, backed by US government treasuries and cash equivalents [6][7]