TLDR
- Truth Social is considering launching a cryptocurrency token and digital wallet for subscription payments
- The token would initially be used for Truth+ subscriptions and later expanded to other services
- Trump Media plans to launch ETFs combining equities with cryptocurrencies
- The company previously filed a trademark application for crypto wallet software
- Concerns exist about potential conflicts of interest between Trump’s crypto ventures and presidential duties
Trump Media & Technology Group, the parent company of Truth Social majority-owned by U.S. President Donald Trump, has announced plans to explore launching a cryptocurrency token as part of its expanding digital services ecosystem.
In a letter to shareholders on Tuesday, the company revealed it is “exploring the introduction of a utility token with a Truth digital wallet.” The token would initially serve as a payment method for Truth+ subscription costs before expanding to other products and services in what the company calls the “Truth ecosphere.”
The announcement had little impact on the company’s stock (DJT), which dropped only 0.52% in after-hours trading following the news.
Expanding Crypto Ambitions
This move represents the latest step in Trump Media’s growing cryptocurrency strategy. The company had previously filed a trademark application with the U.S. Patent and Trademark Office last November for computer software designed to function as a digital wallet.
The application outlined plans for enabling digital asset trading and processing crypto payments on Truth.Fi, the company’s financial services platform. Trump Media CEO Devin Nunes indicated that the crypto token and wallet would be part of a rewards program across multiple services.
Beyond the token initiative, Trump Media is moving forward with plans to launch exchange-traded funds (ETFs). These funds will combine traditional equities with cryptocurrencies and feature a “Made in America focus” on the Truth.Fi platform.
The company signed binding agreements with cryptocurrency exchange Crypto.com and asset manager Yorkville America Digital to facilitate the ETF launch. In January, Trump Media also announced plans to invest up to $250 million of its cash reserves into various financial products, including Bitcoin and other crypto tokens.
Truth+ and Broader Ecosystem
The cryptocurrency integration aligns with Trump Media’s expanding content offerings. Truth+, the company’s streaming service targeting politically conservative audiences, launched in October and would be among the first platforms to accept the proposed crypto token for subscriptions.
This streaming service joins Truth Social and Truth.Fi as part of the company’s growing digital media and financial services ecosystem. The integration of cryptocurrency payments and rewards across these platforms represents an effort to create a cohesive user experience while embracing blockchain technology.
Trump’s team has previously ventured into various crypto products, including memecoins and NFT collections. The proposed utility token would represent a more integrated approach to cryptocurrency within the company’s core business offerings.
Questions have emerged about potential conflicts of interest between Trump’s business ventures and his role as U.S. President. Trump transferred his 59% stake in Trump Media into a trust last December, but critics remain concerned about his influence on crypto policy decisions that could benefit his business interests.
Trump has faced similar criticism for his role as “Chief Crypto Advocate” for World Liberty Financial, where he receives a portion of profits. Some senators have raised concerns that Trump’s policy influence could benefit World Liberty, which is 60% owned by the Trump family.
The company’s latest cryptocurrency plans come amid ongoing scrutiny of Trump’s involvement in the launch of the memecoin Official Trump (TRUMP), which occurred on January 18, just two days before his return to the White House.
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