9 hours ago
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TLDR
- Trump Media & Technology Group is considering launching a utility token and digital wallet for its Truth Social platform
- The token would initially be used for Truth+ subscription payments, later expanding to other services
- Trump Media previously pledged to invest up to $250 million in Bitcoin and crypto-related securities
- President Trump already has an official meme coin on Solana which saw price volatility following the announcement
- Truth.Fi aims to offer “America-First” themed financial products including ETFs with cryptocurrencies by year-end
Trump Media & Technology Group, the company behind Truth Social owned by President Donald Trump, has announced plans to explore launching a cryptocurrency token and digital wallet. This move represents the latest venture into digital assets by Trump-affiliated businesses.
According to a shareholder letter released on Tuesday from CEO Devin Nunes, the company is “exploring the introduction of a utility token within a Truth digital wallet.” The token would first serve as payment for Truth+ subscription costs before expanding to other products within what Nunes calls the “Truth ecosphere.”
The Truth ecosystem currently includes Truth Social, the president’s preferred social media platform, and Truth.Fi, the company’s fintech brand. Truth+ is the company’s streaming video service targeting politically conservative viewers which launched in October.
This isn’t Trump Media’s first move into cryptocurrency. In January, the company revealed plans to invest up to $250 million of its cash reserves into Bitcoin and similar crypto assets or crypto-related securities.
Trump’s Growing Crypto Portfolio
President Trump has embraced cryptocurrency since taking office in January 2025. His official meme coin—TRUMP—launched on the Solana blockchain in January, just days before his inauguration.
The TRUMP token initially reached highs of more than $73 but has since fallen. Following the Truth Social shareholder letter, the token dropped 3% within an hour and 11% over the day.
TRUMP Price on CoinGeckoHowever, the token saw a surge last week when the president’s project announced plans to reward top token holders with an exclusive dinner with Trump. This news sent the price up nearly 66% in a single day.
First Lady Melania Trump also has an official meme coin on Solana. Her token has similarly experienced volatility, dropping 4.2% shortly after the Truth Social announcement and 9.5% over 24 hours to $0.40—down from its January high of $13.05.
Financial Plans and Potential Conflicts
Truth.Fi aims to offer investors access to “America-First” themed financial products by the end of 2025. These will include customized exchange-traded funds (ETFs) containing both cryptocurrencies and traditional equities.
Trump Media has already signed binding agreements with crypto exchange Crypto.com and asset manager Yorkville America Digital to launch these ETFs with a “Made in America focus.” The company stated it plans to invest alongside its shareholders in these financial products.
While Trump transferred his 59% stake in Trump Media to a trust last December, some have raised concerns about potential conflicts of interest. Critics have pointed to his role as “Chief Crypto Advocate” for World Liberty Financial, where he draws a portion of profits.
Some senators have questioned whether Trump’s influence on policy could benefit World Liberty, which is 60% owned by the Trump family. These concerns extend to the potential launch of a Trump Media utility token.
Despite the growth in Trump-related crypto ventures, shares of Trump Media Group showed no change in after-hours trading following the announcement. At market close on Tuesday, shares had fallen 3.29% to $24.98, representing a decline of more than 26% year-to-date.
The potential crypto token follows earlier signals of Trump Media’s interest in digital assets. Last November, the company filed a trademark application with the US Patent and Trademark Office for computer software designed to function as a digital wallet, enable digital asset trading, and process crypto payments on Truth.Fi.
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