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Deng Tong, Bitchain Vision
On June 16, the Trump family’s business empire once again had two eye-catching new moves – the Trump Group announced the launch of Trump mobile phones, Truth Social Bitcoin and Ethereum ETFs have submitted registration statements to the SEC.
What exactly is Trump Mobile?Can the dream of “Made in America” come true?Why does Truth Social submit an ETF registration statement?Is Trump making money with the title of US president?What industries are Trump making money through?
1. Trump’s business empire adds a new map—Trump Mobile is released
1. Introduction to Trump Mobile
The Trump Group plans to sell golden “Made in the United States” smartphones for $499.According to TRUMP’s official website information, Trump Mobile will provide 5G services through three major mobile operators.At the heart of Trump Mobile is its flagship product, The 47 Plan, which costs only $47.45 per month (hint that Trump is the 47th and 45th president of the United States).Users will receive the following additional offers:
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Unlimited calls, text messages and data;
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Complete equipment protection;
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24/7 road rescue services are available through Drive America;
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Telehealth services, including virtual health care, mental health support, and convenient ordering and delivery of prescription drugs;
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Make free international calls to more than 100 countries, including many with U.S. military bases to help memorial families serving heroically abroad for our military without contracts and credit checks.
Trump Jr., Executive Vice President of Trump Group, said: “I am very happy to step into this new digital field where hard-working Americans deserve to enjoy reasonable prices, reflect their values, and provide trustworthy and reliable quality wireless services.We are especially proud to provide free long-distance calls to our military and their families – because military personnel serving overseas should be able to always keep in touch with their loved ones in their hometown.”
2. Can the dream of “Made in America” be realized?
In addition to providing military personnel with free long-distance calls, the mobile phone is also bound to the concept of “Made in the United States”.But can his idea really come true?
After Trump returned to the White House, he has been playing a big game – bringing manufacturing back to the United States.Even Trump did not hesitate to use the trade war to inspire 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 use parts all over the United States to produce such mobile phones.
Professor Tinglong Dai from Johns Hopkins University believes: “There is not even a prototype that can run. It’s extremely unlikely. You have to create miracles, you have to have economies of scale, you have to have sustainable demand for this product.”
CCS Insight analyst Leo Gebbie notedThe United States currently has “no high-tech supply chain required for smartphone assembly”, especially the phone cannot be released in August in time.”However,This device has the potential to be assembled in the United States and the parts are imported from abroad.This is probably the most likely outcome.”
2. Truth Social starts the landing war on ETFs – BTC and ETH ETF registration statement has been submitted to the SEC
1.Truth Social Submits BTC and ETH ETF Registration Statement
Trump’s social media platform Truth Social filed Form S-1 with 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 eliminate the complex problems brought by direct investment by providing investors with investment opportunities in Bitcoin and Ethereum by providing crypto-backed stocks.
According to the documents submitted to the SEC,Of these, 75% of the funds are allocated directly to Bitcoin, and the remaining 25% are allocated to Ethereum.
The stocks are backed by BTC and ETH held by Foris DAX Trust Company, the custodian representing the trust, which operates under the name of Crypto.com, the prospectus says.
According to the document,The ETF stock is to be listed on the New York Stock Exchange Arca (NYSE Arca).
While Truth Social has formally determined that Crypto.com will become its dedicated cryptocurrency custody provider, the company has not finalized the details of the upcoming ETF, such as the fund’s code and cash custodian.
2. Who will benefit from it?
Ethereum’s 25% allocation of funds is consistent with the Trump family’s cryptocurrency activity.According to Arkham data, 96% of the assets of the DeFi project World Liberty Financial, supported by the family, are on the Ethereum blockchain.As World Liberty Financial attaches great importance to Ethereum, this move is in the interests of the Trump family.
If approved, Truth Social Bitcoin ETF and Truth Social Bitcoin & Ethereum ETF will break into a highly competitive market that has been dominated by a handful of well-known asset management companies such as BlackRock, which owns $72.5 billion in assets.
3. Is Trump using his presidential title for self-interest?
Issuing NFTs, hype Memes, holding dinners, publishing mobile phones, submitting ETF applications… Trump seems to be out of control on the road to making money.
Ethics watchdog believes Trump’s actions mean potential corruption and conflict of interest.
Once the news of Trump’s mobile phone launch is released,“It’s incredible that the Trump family has created another way to gain personal gain during President Trump’s tenure,” said Megan Faulkner, communications director at the Citizen Responsibility and Ethics Group in Washington.
Ethics experts believe that Trump has policies and cryptocurrencies may bring economic benefits.
In recent years, the huge and expanding family businesses – including long-term holdings of real estate and casino assets, as well as recent cryptocurrencies – have deepened concerns about the president’s contempt for moral norms during his tenure.Although the White House has always denied this.Press Secretary Caroline Levitt previously said: Some people suggest that Trump “acting for his own interests” is “absurd” and that the White House has always adhered to the “highest moral standards.”The White House said the president is isolated from his business of the same name — he has transferred about $4 billion worth of Trump’s media shares to a trust fund controlled by Trump Jr.
4. What is Trump making money?
According to recently released financial documents, Trump has made millions of dollars from his family’s cryptocurrency businesses, private golf clubs, and sales of everything from the Bible to watches, and has expanded his business empire with his political status.The following are specific information about the assets and liabilities that Trump disclosed for the first time since returning to the White House:
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Cryptocurrency:One of the biggest sources of revenue revealed by Trump 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.
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Royalties:Trump has entered into various licensing agreements with companies selling products that use their names, images and portraits, from sneakers to watches, bringing TrumpMillions of dollars in royalties.
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Bible:Trump from Lee GreenwoodMore than $1.3 million earned in the Bible of God Bless America.During the 2024 campaign, Trump released a video calling on supporters to buy the Bible to “make America pray again.”
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Sneakers and perfume:Earned $2.5 million.
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watch:Sales of “Trump Watches” earned $2.8 million.
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Guitar:A “45” guitar earned over $1 million.
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Private Club:The most important one is the flagship property Mar-a-Lago, which earns slightly above $50.1 million, down from the revenue reported last year of about $57 million.
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First Lady:Melania Trump received a speech fee during her campaign last year: In July, she gave a speech with the Log Cabin Republic, which represents LGBTQ conservatives, in New York, and received $475,000.She also earned nearly $217,000 by selling NFTs (non-fungible tokens).
V. Conclusion
From not supporting cryptocurrencies to the first “crypto president” in American history; from NFTs, Memes to Trump mobile phones, ETFs… Trump has always been at the forefront of the wave of chasing wealth.On the one hand, it is supported by the political halo, and on the other hand, it is the background of businessmen. Does the Trump family’s layout really reflect Trump’s dream of “Made in America” in manufacturing, or is it just a gimmick for making money and hype?Can Truth Social’s ETF have the strength to compete with giants such as BlackRock?Where will the businessman president take the United States?These questions may still have to be considered in time.
Source: Bitchain Vision, TRUMP official website, BBC, Bloomberg, CNN, CoinTelegraph, etc.
