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Donald Trump’s media company is wading further into crypto. On June 3, 2025, NYSE Arca officially filed with the US Securities and Exchange Commission (SEC) an application to list the new spot Bitcoin-related exchange-traded fund (ETF) sponsored by Truth Social, which is the social media platform of the Trump Media & Technology Group (TMTG). The filing was a form of “ Form 19b-4, ” the necessary letter for listing an ETF on a stock exchange in the United States. If approved, the fund will let investors bet on the price of Bitcoin without owning the digital currency. The ETF is a collaboration between Truth Social and Yorkville America Digital, a self-described “America-first” asset manager. The Bitcoin holdings for the ETF will be held in custody by Foris DAX Trust Company, a crypto-affiliated firm. Trump is not named in the filing. However, TMTG, the parent company of Truth Social, is also majority-owned by the president. He has a sizable financial and political footprint in this new crypto initiative. The SEC has not yet assigned a ticker or outlined a fee structure. The regulatory agency also has up to 240 days to decide whether ETFs should be approved. This ETF filing is not just something in a vacuum. It’s part of a broader foray into the digital asset world by TMTG. Trump Media introduced Truth earlier this year. Truth.Fi is a financial brand that offers investment tools with conservative values. One of its marquee objectives is to “support American energy and independence” with investment options such as ETFs and digital assets. In April 2025, Crypto.com collaborated with TMTG.com. That agreement furnished a structure for operating crypto-related products such as custody service (Foris DAX) and wallet development support. The boldest one came soon after. TMTG revealed a $2.5 billion capital raise for a new Bitcoin treasury. The fund is designed to support the company’s expanding lineup of financial tools and serve as a store of value. Through Truth.Fi, the company also expects to roll out a crypto wallet called “Trump Coin Wallet” and is investigating how to enable users to invest directly in Bitcoin and other digital assets. These moves speak to a strategic and financial commitment on the part of Trump Media to be a significant player in the crypto space — an area of the president’s life where he was previously a skeptic. The SEC’s stance on cryptocurrency seems more welcoming than in years past, given newly appointed Chairman Paul Atkins. Recent developments have seen multiple enforcement actions against crypto firms drop, and there is a promise to continue to engage with blockchain companies. Washington has become more crypto-friendly as digital assets gain traction among younger and conservative voters. For TMTG, the timing might be right. Several spot Bitcoin ETFs have been approved since the beginning of 2024. Those include products from heavy hitters such as BlackRock, Fidelity, and Grayscale. However, the ETF backing Truth Social is noteworthy for its direct political ties and symbolism that a Trump-related platform is becoming part of the financial system in this manner. This ETF could even evolve into a rallying point for conservative-minded investors seeking to invest in such aligned market alternatives if approved. It might also give TMTG a fresh source of revenue as it looks to diversify away from social media and entertainment. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

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Hey there, crypto enthusiasts! We’ve got some important news impacting users of a popular Ethereum Layer 2 service. Loopring, known for its ZK-rollup technology, recently made an announcement that’s got many people talking. The core message? The Loopring Wallet service is scheduled to shut down. If you’re one of the many who rely on this particular crypto wallet, you’ll want to pay close attention to the details. Loopring confirmed via a post on X (formerly Twitter) that its native smart contract wallet service will be discontinued. The final date for this is set for the end of June 2025. While this might sound alarming at first glance, especially for those holding assets within the wallet, it’s crucial to understand what this means and, perhaps more importantly, what it doesn’t mean for the broader Loopring protocol and the Ethereum L2 ecosystem. Let’s break down the core announcement. The Loopring shutdown specifically targets the Loopring Wallet, which is a smart contract-based mobile wallet designed to interact seamlessly with the Loopring Layer 2 protocol. This wallet offered features like social recovery, daily withdrawal limits, and guardian features, aiming to provide a user-friendly and secure way to access the benefits of Layer 2 scaling on Ethereum. The decision to shut down a service like this is rarely made lightly. While the official communication often focuses on strategic shifts or resource allocation, the reality can involve various factors. It could be due to evolving market conditions, the cost of maintaining and developing the wallet compared to its user base, or a strategic decision to focus resources entirely on the underlying protocol technology rather than the end-user application layer. Without explicit detailed reasons from Loopring, much of the ‘why’ remains open to interpretation within the community. It’s important to distinguish between the Loopring Wallet application and the Loopring protocol itself. The protocol is the underlying infrastructure, the ZK-rollup technology that enables fast, cheap trading and transfers on Ethereum. The wallet was simply one interface for interacting with that protocol. The announcement clearly states the wallet service is shutting down, not the protocol. This distinction is vital for understanding the future of Loopring as a project. If you are currently using the Loopring Wallet to store assets or interact with decentralized applications (dApps) on the Loopring Layer 2, this announcement has direct implications for you. The primary concern for users is the safety and accessibility of their funds. By the end of June 2025, the wallet application will cease to be supported and likely become inoperable or unsafe to use. This means you absolutely must take action before that deadline. Leaving assets in the wallet beyond the shutdown date could result in losing access to them, or at the very least, facing significant complications in retrieving them. This situation highlights a key aspect of self-custody in the crypto world: the responsibility lies with the user. While the wallet facilitated access, the underlying assets are on the blockchain, accessible via your private keys or recovery phrases (depending on the wallet type, Loopring Wallet uses a guardian/social recovery model). However, the *interface* provided by the wallet app is necessary for easy interaction. When that interface is removed, you need an alternative method. The good news is you have ample time – over a year – to plan and execute your migration strategy. This isn’t a sudden, overnight closure, giving users a significant window to move their assets safely. Migrating your assets from the Loopring Wallet doesn’t have to be a stressful process if you plan ahead. Here’s a simplified guide on the steps you should consider taking: Remember the deadline: end of June 2025. Don’t wait until the last minute! Starting this process sooner rather than later will give you peace of mind. The need to find a new wallet presents an opportunity to explore the diverse landscape of Layer 2 wallet options available for interacting with Ethereum L2 networks. Since your assets are on the Loopring L2, your new wallet needs to be compatible with this network. What kind of wallets should you look for? You’ll generally be looking for wallets that support connecting to Layer 2 networks like Loopring. These could include: When choosing a new crypto wallet, consider factors like security features (seed phrase storage, hardware wallet compatibility), user interface, supported networks (make sure it supports Loopring L2!), reputation, and community support. Do your own research (DYOR) to find the wallet that best suits your needs and technical comfort level. As mentioned earlier, the Loopring shutdown applies only to the wallet service, not the underlying protocol. The Loopring protocol, a leading Ethereum L2 ZK-rollup, continues to operate and evolve. Its core function is to provide a high-performance, low-cost platform for trading and payments on Ethereum using zero-knowledge proofs. The team’s decision to sunset the wallet likely indicates a strategic pivot towards focusing on the core protocol technology, developer tools, or other areas they believe will drive greater adoption and innovation within the L2 space. This isn’t necessarily a sign of the project failing; it could be a sign of maturity and a focus on its core strengths as a technological layer rather than an end-user application provider. Users and developers can still interact with the Loopring protocol using compatible third-party wallets and interfaces. The network remains active, processing transactions and supporting decentralized exchanges and other applications built on it. The future of Loopring the protocol seems to be centered on its role as vital infrastructure for scaling Ethereum. Looking back, the Loopring Wallet offered significant benefits, primarily by providing a user-friendly gateway to the advantages of Ethereum L2: incredibly low transaction fees and high transaction speeds compared to Layer 1. Its smart contract features like social recovery were also seen as innovative security measures. However, the challenge now is the disruption caused by the Loopring shutdown. Users face the challenge of migrating assets, which requires technical understanding and careful execution to avoid errors. There’s also the challenge of finding a new crypto wallet that meets their needs and offers similar ease of use or desired features, especially for those accustomed to the specific functionalities of the Loopring Wallet. This situation also highlights a broader challenge in the rapidly evolving crypto landscape: the reliance on specific applications or interfaces. While decentralization is a core tenet, accessing decentralized networks often requires centralized or specific software interfaces, which can be subject to change or discontinuation. The announcement of the Loopring Wallet shutting down by the end of June 2025 is a significant piece of news for its users. It necessitates action to ensure the safety and accessibility of your digital assets. While the wallet service is retiring, the underlying Loopring protocol, a key player in the Ethereum L2 space, continues its mission to scale decentralized applications. This transition period, though potentially inconvenient, serves as a crucial reminder of the importance of managing your private keys or recovery methods and staying informed about the services you use. By planning your asset migration now and exploring suitable alternative Layer 2 wallet options, you can navigate this change smoothly and continue to participate confidently in the decentralized future powered by Ethereum’s scaling solutions. Don’t delay! Take the necessary steps today to secure your assets before the June 2025 deadline and transition to a new crypto wallet that supports your needs on the Loopring network or other preferred L2s. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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RT @Filecoin: Filecoin provides compliance-grade retention for @avax apps. KYC records, transaction logs, and audit trails can now be store…