The Trump family launches its first smartphone T1 and issues ETF cryptocurrency – Passionategeekz –

[CNMO Technology News]Although Trump has moved to the White House, the Trump family’s business empire is also continuing to expand. Although some political camps have criticized their business activities, believing that it hurts the neutrality of the presidency, all this seems to have failed to slow down the pace of the family’s business. Just on June 16, two new businesses under Trump attracted attention again: the cryptocurrency ETF plan and Trump Mobile phone pre-sales were officially launched.

Trump Mobile, jointly operated by Don Jr. and Eric Trump, announced the launch of pre-sale of its first smartphone T1. The $499 device is scheduled to be officially released in August this year to mark the tenth anniversary of Trump’s first presidential campaign in 2015.

Trump Mobile also launched a communications service package called “Plan 47”, with a monthly fee of $47.45, which is inconsistent with Trump’s goal to become the 47th US president. The package promises to provide: 5G high-speed Internet access, unlimited calls, SMS and traffic, equipment protection services, providing all-weather road rescue across the United States, telemedicine services and free calls from more than 100 countries around the world, including US military bases overseas.

Trump Mobile claims that the T1 phone is “designed and manufactured in the United States” and uses a golden shell and is positioned as a high-performance device to cater to the patriotism of supporters. However, earlier analysis pointed out that the phone is highly similar to a Chinese-made Android model sold by T-Mobile, and the so-called “Made in the United States” may be controversial.

At the same time, Trump Media and Technology Group (TMTG), a media platform, has also made frequent moves, submitting a registration statement to the Securities and Exchange Commission (SEC) today, planning to launch a cryptocurrency ETF – Truth Social Bitcoin and Ethereum ETF. The ETF will hold Bitcoin and Ethereum at a ratio of 75:25 respectively, and Crypto.com will serve as a custodian, transaction agent, and liquidity and staking services.

Previously, TMTG submitted a Truth Social Bitcoin ETF application to NYSE Arca in early June and announced that it could use up to US$250 million to establish a personalized SMA account and ETF fund. To this end, TMTG has raised about $2.3 billion through convertible bonds and stock issuances, and plans to establish a corporate financial vault with Bitcoin as its core.

It is worth mentioning that Trump is still the largest shareholder of TMTG, but has entrusted his shares to a trust led by Donald Trump Jr.

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