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Shares of Trump Media & Technology Group (DJT, DJTWW) are soaring after it was announced the company will team up with Crypto.com to launch ETFs. Morning Brief Anchors Brad Smith and Madison Mills break down the latest news surrounding the company.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Shares of DJT, let's check in on them. DJT, which owns President Trump's social media site, Truth Social are on the rise after the news the company will partner with crypto.com to launch a series of ETFs through its Fintech arm. The non-binding partnership will include Bitcoin, Kronos, and other cryptocurrencies that uh with what it calls a made-in America focus. Shares of DJT here, they are up by about 9% on the day. And you had actually seen another announcement that just came across from the Trump sphere, if you will.
That is exactly right, Brad. Taking a look here at DJT and by the way, I was I was distracted when we started this segment because I was trying to take a look at any analyst recommendations for DJT, and there aren't none because uh there are not analysts covering the stock necessarily at this time. It typically trades off vibes and less off fundamentals. But some other news in the Trump sphere here. Donald Trump's World Liberty Financial crypto venture saying it will launch a dollar pegged stable coin this morning here. World Liberty Financial saying its USD1 stable coin will be backed by US treasuries, dollar deposits, and cash equivalents. Brad, I know this is something that has been coming up in your coverage for a long time here. Uh this plan again being 100% backed by short-term US government treasuries, government dollar deposits, cash equivalents, USD tokens will be minted on Ethereum and Binance smart chain blockchains as well.
Yeah, I can only tell you what uh they've continued to in the thread and the string of how they've been publicizing what World Liberty Financial's initiatives and goals are looking to try and further um pioneer their words in the defy space, uh and really trying to democratize even more access to financial opportunities. Um but safeguarding the global standing of the US dollar here. So all of these things considered, especially as you have a stable coin mindset, it's essentially saying, okay, $1 in, then you get one stable coin. It's directly pegged. Um it would probably get a lot more flak if it was an algorithmic stable coin. Thank goodness, we've moved past much of those efforts, but all the things that we've looked across most recently coming out of World Liberty Financial, the week after the election even, they were talking about this new partnership with Chainlink and trying to make sure that that actually leverages the Chainlink platform uh in order to kind of add more securitization to the lending protocols that take place within the crypto landscape as well here. So uh that's just the latest out of the uh World Liberty Financial side of all of the kind of Trump businesses that we're following here.
Yeah, a lot of names to mention there. Obviously, what you just mentioned with World Liberty Financial, but also Truthfy, which is the Fintech platform under Trump media, which is backed by Charles Schwab, we should mention, and also, you can see here, obviously, partnering with crypto.com. So a lot of names there.
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