Trump Media, the parent company of Truth Social, has filed to launch a new crypto ETF backed by a handful of the most popular tokens.

The president’s social media company is undergoing its own metamorphosis, becoming a major player in the crypto industry.

Key Points The Trump administration is affecting the crypto sector in quite a few ways.The president's official token has hurt the sector. The newly proposed policies and newly appointed leaders could be positives.

President Donald Trump plans to launch a cryptocurrency exchange-traded fund, or ETF, through his media company

Trump Media stock saw a double-digit sell-off last month despite a bullish rally for the broader market. Trump Media's share price has seen some recovery momentum in July's trading. Trump Media & Technology Group (NASDAQ: DJT) stock lost ground in June's trading despite a very strong bullish backdrop for the broader market.

Donald Trump Jr.'s $4M bet on Thumzup highlights the Trump family's growing push into crypto and digital assets.

Here's a quick recap of the crypto landscape for Wednesday (July 9) as of 9:00 p.m. UTC. Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Trump Jr. crypto investment grows with a $3.3M stake in Thumzup Media, backing Bitcoin reserves as part of a growing institutional adoption trend.

The president waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans. It remains to be seen whether he follows through with his threat.

According to the official website of the U.S. SEC, Truth Social has submitted an S-1 filing for a blue-chip cryptocurrency ETF. The trust’s assets primarily include Bitcoin, Ethereum, SOL, XRP, and CRO, which will be held by a custodian on behalf of the trust. Truth Social is a…