Trump Media introduces her own cryptocurrency and wallet for Truth Social
- Trump Media wants to equip the Truth Social Payment and Premium System with its own utility tokens and cryptovallet.
- Truth.fi extends the crypto companies of TMTG with ETFs, Bitcoin investments and a $ 250 million fund for digital assets.
The Trump Media and Technology Group (TMTG), the company behind Truth Social, is considering the introduction of a cryptocurrency token and a wallet. The initiative aims to support the growing efforts in the area of digital finances by the fintech department of Truth.fi.
The token can initially be used for payments as part of the Truth subscription service, whereby it is planned to expand its use. The growing crypto presence of TMTG reflects the general change of President Donald Trump to a crypto-friendly attitude since taking office.
Utility token to supply the Truth system
According to one Shareholder the proposed utility token could serve as a payment method for truth subscriptions. The company said that it would invest in these tokens and other digital financial products. The initiative would be part of what TMTG calls the “Truth Ecosphere”, to which platforms such as Truth Social and Truth. Fi.
The letter avoided the asset as a cryptocurrency, but a terminology was used that is typically associated with crypto products. In November 2024, TMTG submitted a brand application for the token to the US patent and brand office.
As we mentioned in our previous post, Truth.fi was founded in January as a fintech branch of TMTG. It manages crypto investment and builds digital financial products. Truth.fi will also launch ETFs that combine traditional stocks with cryptocurrencies. These ETFs are managed by Crypto.com and Yorkville America Digital.
TMTG has cash reserves of $ 2,250 million for its financial projects. The funds are kept at Charles Schwab and can contain cryptocurrencies and securities linked with cryptocurrencies.
Trumps crypto companies are expanding across platforms
President Trump’s crypto portfolio is growing. At the beginning of this year he introduced a Memecoin called Trump on the Solana blockchain. He reached a maximum of $ 73 in January and has fallen since then. After the publication of the shareholder letter, he fell by another 11 %.
As we recently reported, the Meme Coin has just announced a reward campaign. The 220 best owners receive an invitation to a dinner with Trump. Tron founder Justin Sun is one of the top letter pocket owners.
Melania Trump has also launched her own meme coin based on Solana, which has fallen heavily in the past few months. Other crypto companies with Trump cover include NFTS, a stable coin initiative, the Defi-platform World Liberty Financial and a real estate game with a Trump cover.
As CNF reported, Trump is the top crypto supporter of World Liberty Financial. He receives a percentage participation in the profits. Because of concerns due to conflicts of interest transferred Trump his 59%participation in TMTG in December 2024 on a trust.
In the meantime, the Vice President of the Trump organization said Eric Trump that cryptocurrencies are accepted in a new project in Dubai. The property is developed with Dar Global and includes a hotel and residential properties under its brand.
Political and regulatory changes in Trump administration
The introduction of the utility token and the wallet falls back to the Pro crypto posture of the Trump administration. Since taking office, he has signed implementation regulations to support digital assets. This includes a national Bitcoin reserve and StableCoin laws.
The Ministry of Justice also closed the National Cryptocurrency Enforcement Unit this year. In addition, the SEC has withdrawn several enforcement measures against crypto companies under its chairman Paul Atkins. The procedures against Coinbase, Cumberland DRW and Uniswap Labs were stopped without fines.
The SEC recently ended its investigation against the NFT project cyberkongz without further measures. She also ceased the procedure against Richard Heart, the founder of Hex, PulsEchain and Pulsex.
The company’s media share, which is traded under the ticker DJT, did not record any major movements after the crypto announcement. The stocks closed at $ 24.98 and have thus recorded a decline of over 26 %since the beginning of the year. TMTG will hold its annual shareholder assembly on May 1st, on which further details could be announced.
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