President Donald Trump’s media group is partnering with Singapore-based crypto exchange Bitcoin and other unspecified digital assets, the ETFs will include Cronos, a cryptocurrency with ties to Crypto.com, the statement says.
The partnership puts Trump’s media company, of which Trump owns a majority stake, in business with a company that was recently in the crosshairs of U.S. regulators. In August of last year, Crypto.com received a Wells Notice, a letter from a government agency letting a defendant know that the agency intends to sue them, from the Securities and Exchange Commission alleging it violated securities laws. Before the agency filed a formal lawsuit against the company, Crypto.com sued the SEC claiming it was operating outside of its jurisdiction. However, Crypto.com withdrew its complaint in December after CEO Kris Marszalek met with then President-elect Trump at Mar-a-Largo. TMTG did not immediately respond to Fortune’s request for additional comment.
The Singapore-based company has quickly become one of the most popular centralized crypto exchanges, jumping from 13th highest by trading volume to third within the last year, according to data collected by crypto analytics platform CoinGecko.
This story was originally featured on Fortune.com
