Deng Tong, Golden Finance
On June 16, the Trump family's business empire once again had two eye-catching new moves - the Trump Group announced the launch of the Trump mobile phone, and the Truth Social Bitcoin and Ethereum ETFs have submitted registration statements to the SEC.
What exactly is Trump Mobile? Can the dream of "Made in the USA" be realized? Why did Truth Social submit an ETF registration statement? Is Trump making money with the title of President of the United States? What industries does Trump make money from?
The Trump Group plans to sell a gold "Made in the USA" smartphone for $499. According to information on TRUMP's official website, Trump Mobile will provide 5G services through the three major mobile operators. The core of Trump Mobile is its flagship product, The 47 Plan, which costs only $47.45 per month (implying that Trump is the 47th and 45th president of the United States). Users will receive these additional benefits:
Unlimited talk, text and data;
Complete device protection;
24/7 roadside assistance through Drive America;
Telehealth services including virtual care, mental health support and easy ordering and delivery of prescriptions;
Free international calling to more than 100 countries, including many with U.S. military bases, to help honor the families who have bravely served our troops abroad.No contract, no credit check.
Trump Jr., executive vice president of the Trump Organization, pointed out: "I am very happy to step into this new digital field. Hard-working Americans deserve wireless services that are reasonably priced, reflect their values, and provide reliable quality that they can trust. We are particularly proud to provide free long-distance calling services to our military personnel and their families - because soldiers serving overseas should always be able to stay in touch with their loved ones back home."
In addition to the gimmick of providing free long-distance calls to soldiers, mobile phones are also tied to the concept of "Made in the USA". But can his idea really come true?
After returning to the White House, Trump has been playing a big game - bringing manufacturing back to the United States. Trump even did not hesitate to use trade wars to encourage American companies to reduce their dependence on foreign goods and return to domestic manufacturing, thereby "revitalizing American industry" and realizing the dream of "making America great again."
Supply chain experts believe that it is "almost impossible" to produce such a phone in the United States using all-American parts.
Professor Tinglong Dai of Johns Hopkins University believes: "There is not even a working prototype. This is extremely unlikely. You have to work miracles, you have to have economies of scale, and you have to have sustainable demand for this product."
CCS Insight analyst Leo Gebbie pointed out that the United States currently "simply does not have the high-tech supply chain required for smartphone assembly" , especially in time to release the phone in August. "However, it is possible that the device is assembled in the United States with components imported from abroad. This may be the most likely outcome." 2. Truth Social launches ETF beachhead landing battle - has submitted BTC and ETH ETF registration statements to the SEC 1. Truth Social submits BTC and ETH ETF registration statements Trump's social media platform Truth Social has submitted an S-1 form to the U.S. Securities and Exchange Commission to launch a dual exchange-traded fund (ETF) for Bitcoin and Ethereum, sponsored by asset management company Yorkville America Digital. The trust aims to provide investors with investment opportunities in Bitcoin and Ethereum by providing stocks backed by crypto assets, thereby eliminating the complex issues brought about by direct investment.
According to documents filed with the SEC, 75% of the funds were allocated directly to Bitcoin, with the remaining 25% allocated to Ethereum.
The shares are backed by BTC and ETH held on behalf of the trust by Foris DAX Trust Company, a custodian doing business as Crypto.com, the prospectus said.
According to the filing, The ETF shares are intended to be listed on the New York Stock Exchange Arca (NYSE Arca).
While Truth Social has officially identified Crypto.com as its dedicated cryptocurrency custody provider, the company has yet to finalize details of the upcoming ETF, such as the fund's ticker and cash custodian.
The 25% allocation to Ethereum is in line with the Trump family's cryptocurrency activities. According to Arkham data, 96% of the assets of World Liberty Financial, a DeFi project supported by the family, are on the Ethereum blockchain. Since World Liberty Financial places a high value on Ethereum, the move is in line with the Trump family's cryptocurrency interests.
If approved, the Truth Social Bitcoin ETF and Truth Social Bitcoin & Ethereum ETF will enter a highly competitive market that is already dominated by a few well-known asset management companies such as BlackRock, whose iShares Bitcoin ETF has $72.5 billion in assets.
Issuing NFTs, hyping Memes, holding dinners, releasing mobile phones, submitting ETF applications... Trump seems to be on the road to making money.
Ethics watchdogs believe that Trump's actions imply potential corruption and conflicts of interest.
As soon as the news of the launch of Trump's phone was released,Megan Faulkner, communications director of Citizens for Responsibility and Ethics in Washington (CREW), said: "It is incredible that the Trump family has created another way for President Trump to seek personal benefits during his tenure."
Ethics experts believe that Trump makes policies and cryptocurrencies may bring financial benefits.
In recent years, the large and expanding size of the Trump family business - including long-held real estate and casino assets, as well as recent moves into cryptocurrencies - has deepened concerns that the president has flouted ethical norms while in office. Although the White House has always denied this. Press Secretary Carolyn Levitt previously said that it was "absurd" for someone to suggest that Trump "acted in his own interests" and that the White House always adheres to the "highest ethical standards." The White House said the president is isolated from his eponymous business - he has transferred about $4 billion worth of Trump Media shares to a trust controlled by Trump Jr.
According to recently released financial documents, Trump has made millions of dollars from his family's cryptocurrency business, private golf clubs, and the sale of everything from Bibles to watches. He has used his political status to expand his business empire. The following is the specific information on Trump's assets and liabilities disclosed for the first time since his return to the White House:
Cryptocurrency:One of Trump's largest sources of income was the sale of $57 million worth of tokens through WLF Holdco LLC. Trump also holds about $1 million to $5 million worth of Ethereum.
Royalties: Trump has millions of dollars in royalties from various licensing deals he has struck with companies that sell products using his name, image, and likeness, from sneakers to watches.
Bibles: Trump has earned more than $1.3 million from Lee Greenwood’s God Bless America Bible. During his 2024 campaign, Trump released a video calling on supporters to buy the Bible to “make America pray again.”
Sneakers and Perfume: Earned $2.5 million.
Watches: $2.8 million was earned from selling the "Trump watch."
Guitar: A "45" guitar earned more than $1 million.
Private clubs: The flagship estate, Mar-a-Lago, brought in just over $50.1 million, down from about $57 million reported last year.
First Lady: Melania Trump's speaking fees during last year's campaign: She was paid $475,000 for a speech in New York in July with the Log Cabin Republic, a group representing LGBTQ conservatives. She also made nearly $217,000 from selling NFTs (non-fungible tokens).
From not supporting cryptocurrency to becoming the first "crypto president" in American history; from NFT, Meme to Trump phones, ETFs...Trump has always been at the forefront of the pursuit of wealth. On the one hand, it is the blessing of the political halo, and on the other hand, it is the background of a businessman. Does the Trump family's current round of layout really reflect Trump's dream of realizing the "Made in the USA" manufacturing industry return, or is it just a gimmick to make money? Can Truth Social's ETF compete with giants such as BlackRock? Where will this businessman president take the United States? These questions may have to wait for time to consider.
Source: Golden Finance, TRUMP official website, BBC, Bloomberg, CNN, CoinTelegraph, etc.
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