Trump Media Group Ponders Launch of Utility Token and Digital Wallet in Recent Crypto Endeavor
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Trump Media and Technology Group is considering a major leap into the world of cryptocurrency by launching a utility token and digital wallet, according to a letter from CEO Devin Nunes to shareholders.
The utility token, slated for use within a digital wallet, could make waves in the Truth Social platform by powering Truth+ subscriptions and various other products within the Truth ecosystem. This token will also be instrumental in a proposed rewards program, promoting user engagement across the company's services.
Moving forward, Trump Media has plans to develop "America first" themed financial products, such as exchange-traded funds (ETFs) and separately managed accounts (SMAs). These financial products will likely be housed under the banner of Truth.Fi, with custody provided by Charles Schwab.
Earlier, the company announced in January that it would invest up to $250 million of its reserves in Bitcoin and other digital assets. Initially, Trump Media had hinted at a crypto payments offering in November, with a trademark application for a digital wallet and crypto payment processing on Truth.Fi[1][2][3].
batter up! The news was announced in a letter from CEO Devin Nunes himself 🤝💼✨ pic.twitter.com/Sq2a6TdBdi
- Eleanor Terrett (@EleanorTerrett) April 29, 2025
Trump Media's Stock Surge
Since its public debut on March 26, 2024, Trump Media has seen a significant dip in share prices. However, the share’s value has seen an impressive surge of over 27% in the past month[4].
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- In the business world, Trump Media and Technology Group is planning to launch a utility token and digital wallet in the cryptocurrency sector, as per a letter from CEO Devin Nunes to shareholders.
- The utilization of this token within the digital wallet could impact the Truth Social platform, powering Truth+ subscriptions and various other products.
- Additionally, Trump Media's proposed rewards program will leverage this token to foster user engagement across its services.
- Remarkably, Trump Media has also set plans to establish "America first" themed financial products like exchange-traded funds (ETFs) and separately managed accounts (SMAs), presumably under the name Truth.Fi, and is expected to partner with Charles Schwab for custody.
