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Shares of Trump Media jumped about 9% in extended trading on Monday after the parent of the president’s social media company announced an agreement with Crypto.com to launch a series of exchange-traded funds and related products.

The company, which runs the Truth Social platform, has been hammered by investors so far this year despite President Donald Trump’s return to the White House. Prior to the after-hours gain, the stock was down 38% in 2025.

In the press release on Monday, Trump Media said the ETFs and exchange-traded products will have a “Made in America” focus and will launch later this year, subject to regulatory approval. It’s President Trump’s latest foray into crypto, after his family introduced several Trump-branded non-fungible tokens and memecoins and announced plans to start a crypto bank of sorts.

The announcement also further blurs the line between the president’s business ventures and his policy agenda.

Trump is the majority owner of Trump Media, which has a market cap of about $4.6 billion. It’s a tiny and money-burning business. Trump Media last month reported losing $400 million in 2024, while taking in $3.6 million in revenue.

Much of the work in bringing the new ETFs to market will fall to Crypto.com and its U.S. affiliate, Foris Capital, a familiar arrangement for Trump, who has long allowed other companies to develop products with his name and brand.

Crypto.com CEO Kris Marszalek, in the statement, touted access to a “brand with a loyal following.”

The funds will be marketed under TMTG’s newly-launched fintech brand, Truth.Fi. According to the press release, the crypto exchange will “support the backend technology, provide custody, and supply the cryptocurrencies for the ETFs,” which are set to include a unique basket of digital assets like bitcoin and cronos (Crypto.com’s native token), alongside traditional securities spanning industries such as energy.

If the ETFs launch, they’ll be available internationally, including in Europe and Asia, on major brokerage platforms and via the Crypto.com app, which boasts 140 million users globally.

WATCH: Trump’s World Liberty Financial projects says it sold $550 million in tokens

Trump’s World Liberty Financial crypto project says it sold $550 million in tokens

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Podcast: Trump’s dumb auto tariffs explained, Tesla in the crosshairs, new Nissan Leaf, and more

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Podcast: Trump's dumb auto tariffs explained, Tesla in the crosshairs, new Nissan Leaf, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Trump’s dumb new auto tariffs explained, Tesla being in the crosshairs of retaliatory tariffs, the new Nissan Leaf, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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Nikola founder Trevor Milton pardoned after $1.8m bribe to Trump (Updated)

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Nikola founder Trevor Milton pardoned after .8m bribe to Trump (Updated)

Well, here’s a weird one. We got a press release in our inboxes claiming that Nikola Motors founder Trevor Milton, who was convicted of defrauding investors of hundreds of millions of dollars, has been issued a full pardon for his crimes.

Update: This article has been updated to include confirmations from media of the pardon, to acknowledge the $1.8 million in payments Milton and his wife gave to a pro-Trump PAC, and with comments from Mr. Trump in a press conference.

In case you need a refresher, Trevor Milton was the founder of Nikola Motors who was found guilty of fraud due to false statements he made to investors in the runup to production of Nikola’s zero emission trucks.

He was sentenced in December 2023. His sentence included four years in prison, seizure of property, a $1 million fine, and three years of supervised release after serving the sentence.

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The verdict and sentence related to false statements that Milton made to the public about progress with his company’s electric trucks. In particular, one situation involved a faked video of Nikola’s “One” hydrogen truck in which the truck was shown running when, in fact, it was just rolling down a hill.

Despite all this, Nikola got new leadership and did end up making battery and fuel cell electric semi trucks – we took multiple rides in them (they were pretty good, to be honest), and visited one of their fueling stations.

But it all wasn’t enough to keep Nikola from going bankrupt last month.

Fast forward to yesterday and we got a very weird press release in our inboxes – which we sat on for a little while, since it felt sketchy.

The press release came from “Trevor Milton Media,” and is highly praiseful of Milton, and also ends with an ad for an upcoming documentary. It claims that Donald Trump, also a convicted felon, has issued a full pardon to Milton. Milton also made a social media post announcing that he had gotten a personal phone call from Mr. Trump telling him about the pardon.

However, the Justice department operates a handy website cataloguing pardons – and weirdly enough, Milton isn’t on there. The website does mention an action from March 25th, so it *is* possible that it’s not updated and this will be added later – we would not be surprised by a lack of organization from anything associated with Mr. Trump.

But, whitehouse.gov also has a list of executive actions, and that’s been updated all the way to today, March 28, the day after this pardon happened. It includes an item from March 26, a pardon of Devon Archer, which is also listed on the Justice department’s pardon website as having happened on March 25.

Further, the pardon website includes no acknowledgement of pending cases for anyone named Trevor Milton, under the “search for a case” function.

And the last entry on the case against Trevor Milton is a letter from March 14th detailing the appropriate amounts of restitution – totaling at least ~$676 million – for parties defrauded by Milton.

Then, after sitting on the story for a couple hours, we saw that other outlets had reported it with the caveat that “Milton says” he’d been given a pardon – with some hoping that it’s a hoax. Reuters stated at the time that “The White House and Nikola did not immediately respond to requests for comment,” but all of this happened well past end of day, when people weren’t around to comment (nobody picked up the one call we made, either).

Finally, today New York Times, AP and others now say that the White House has confirmed this, but it still has not been posted to any official catalogue of pardons. It has also been reported that Trevor Milton gave $920,000 to Mr. Trump’s political campaign (or $1.8 million combined with his wife) and was represented in this case by Pam Bondi’s brother.

Update: Mr. Trump was asked his thoughts on the pardon in a press conference, and instead of stating his own thoughts (because, as usual, he doesn’t have any), he said that it was “highly recommended by many people,” but acknowledged that he “doesn’t know [Milton].” Mr. Trump also acknowledged that one of the reasons he supports a pardon is because Milton “liked Trump” and “supported Trump.”

Electrek’s Take

Well, we were right to think this was sketchy, but while we originally thought it could have been a weird publicity stunt of some sort, it looks like this is just the standard pay-for-play sketchiness that happens when a convicted fraudster is squatting in the White House.

The weirdness of the press release we got does warrant examination, though.

Much of it rails against the justice system in general, and against the Southern District of New York in particular – the district in which Milton was found guilty of federal crimes, and the same state where Mr. Trump was found guilty of falsifying business records, violating state law.

Milton’s press release argues that his case is similar to Mr. Trump’s, with both of them being victimized by the court system. It states “The striking similarities between Milton’s case and those brought against President Trump highlight systemic issues within the justice system, particularly within the Southern District of New York.” This seems like clear angling at Mr. Trump’s vanity.

The press release also name drops specific US attorneys and claims that their prosecution was flawed. This could be similar to a tactic which Mr. Trump has used before (and his ally Elon Musk), where they have publicly called out defenders of the law for doing their jobs in an apparent attempt to get them to back down or compromise their efforts.

It also seems quite similar to a proposed tactic by another corporate criminal, Sam Bankman-Fried. Fried had planned to “Go on Tucker Carlsen [sic], come out as a republican” in an attempt to angle for a pardon, again playing on the vanity, credulousness and love of fraud shown by the idiot-in-chief. Too bad Fried’s timing was off, but Milton been luckier here.

And then, in the last line of the press release, we get to a pretty funny statement – it ends with a link to a trailer for a documentary which purports to exonerate Milton, thus trying to use this news to get publicity for the upcoming video. Kind of strange that someone would need to release a documentary making the case for exoneration when one has supposedly already been exonerated, isn’t it?

So, for these reasons, we initially thought that this pardon didn’t actually happen. And it still isn’t mentioned on the pardon site, but then again disorganization is just as unsurprising as corruption when it comes to the convicted fraudster who is currently squatting in the White House (despite the Constitution having a clear legal remedy for this national crisis).

And now, in exchange for just under $2 million in bribes, Milton might be able to skip out on the hundreds of millions in restitution he owes to regular people – or at least delay it for a while until civil cases happen. What a return on investment. We’ve crossed the Rubicon, people.


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Lucid (LCID) is about to resume Gravity electric SUV deliveries

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Lucid (LCID) is about to resume Gravity electric SUV deliveries

Get ready to see Lucid’s new electric SUV finally hit the streets. Lucid Motors (LCID) is quickly ramping up Gravity SUV production as it prepares to resume deliveries by the end of next month.

Lucid Gravity SUV deliveries will resume in April

Lucid celebrated the “celestial arrival” of the Gravity SUV on Thursday night outside of its flagship studio in the heart of New York City’s Meatpacking District.

The electric SUV was showcased to attendees and onlookers in an extravagant event, which even featured a surprise performance from Cautious Clay.

During the event, Lucid’s interim CEO Marc Winterhoff said the company is “nearly finished building all the vehicles that we wanted to build to put them into our studio and for test drives. He added, “And by the end of April, we will resume customer deliveries of the Gravity.”

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Lucid employees told TechCrunch at the event that Gravity SUV production was ramping up at its Casa Grande, Arizona, plant.

After opening orders in November 2024, Lucid delivered the first Gravity models the following month. However, those were for employees, friends, and family.

Earlier this year, the company confirmed that Gravity drivers can charge up at Tesla Superchargers as the first non-Tesla sold with a native NACS port.

Powered by Lucid’s advanced EV powertrain and a 123 kWh battery, the Gravity has an EPA-estimated range of up to 450 miles.

Although it has nearly as much interior space as a Cadillac Escalade (up to 120 cubic feet), the Gravity still moves like a sports car. With 828 horsepower, Lucid’s three-row SUV can sprint from 0 to 60 mph in 3.4 seconds.

The Gravity Grand Touring is the only trim available to order right now, starting at $94,900. Later this year, the Gravity Touring will arrive starting at $79,900. Lucid opened Gravity orders in Saudi Arabia last week and plans to launch it in Europe in 2026 as it expands the brand overseas.

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