Breaking: Trump Media's Latest Venture into Crypto
Trump-linked media firm outlines strategy for cryptocurrency token and digital wallet development
Wanna keep up with the latest goss on Truth Social owned by former President Donald Trump? Hold onto yours hats, folks, because this one's a doozy!
Truth Token & Wallet
In a mind-blowing shareholder letter, the CEO of Trump Media & Technology Group (TMTG), Devin Nunes, spilled the beans about a potential utility token and digital wallet for the Truth Social platform. House-brand cryptocurrency, anyone?
The troops are reportedly busily working on developing a Truth Social-branded token, initially destined for Truth+ subscription payments. That's right, my fellow patriots - if you're a Truth+ subscriber, you'll soon be paying in digital coin! They're also tossing around the idea of extending the token to other services within the "Truth ecosphere."
The Truth Ecosystem
So far, this ecosystem includes Truth Social, the President's fav social media playground, and Truth.Fi, the company's fintech brand. Trump+, the company's streaming service catering to politically conservative viewers, just launched in October.
Trump's Crypto Portfolio Blooms
No stranger to crypto, Trump has been eagerly embracing digital coins since taking office in January 2025, with his official TRUMP token soaring over $73 upon its launch on the Solana blockchain in January - just days before inauguration. However, prices have dropped since then, with a 3% dip within an hour and an 11% plummet over the day following the Truth Social shareholder letter.
The token saw a surge last week as the project announced plans to lavish top token holders with an exclusive dinner with Trump - a decree that sent prices up nearly 66% in a single day.
First Lady Melania Trump's meme coin on Solana has gone through similar ebbs and flows, with a 4.2% dip shortly after the Truth Social announcement and a 9.5% plunge over 24 hours to $0.40 – down from its January high of $13.05.
Finishing Touches on "America-First" Products
Truth.Fi, TMTG’s fintech arm, aims to roll out "America-First"-themed financial products by year's end, complete with a selection of exchange-traded funds (ETFs) containing both cryptocurrencies and traditional equities. Trump Media has already secured binding agreements with crypto exchange Crypto.com and asset manager Yorkville America Digital to launch these crypto-centric ETFs by the end of 2025, with a focus on Made in America investments.
Potential Red Flags
With Trump transferring his 59% stake in Trump Media to a trust last December, some critics have raised concerns about potential conflicts of interest. With the President taking on the role of "Chief Crypto Advocate" for World Liberty Financial and drawing a share of the profits, there's speculation that his influence on policy could potentially benefit World Liberty, which is owned to the tune of 60% by the Trump family.
Some senators have voiced doubts about the potential launch of a Trump Media utility token, questioning whether Trump's sway over policy could advantage this venture.
Despite the growing slew of crypto-related projects linked with Trump, shares of TMTG remained steadfast in after-hours trading following the announcement, with a mere 3.29% decline to $24.98, amounting to a dip of over 26% year-to-date.
Laying Down the Groundwork
Last November, TMTG filed a trademark application with the US Patent and Trademark Office for software designed to function as a digital wallet, facilitate digital asset trading, and process crypto payments on Truth.Fi -- all signs pointing towards a long-term vision of embracing the decentralized world of finance.
Sources
- Yahoo Finance, accessed 14 April 2023
- CoinDesk, accessed 14 April 2023
- Forbes, accessed 14 April 2023
- Business Insider, accessed 14 April 2023
- The Verge, accessed 14 April 2023
- Trump Media & Technology Group (TMTG) is reportedly developing a Truth Social-branded cryptocurrency for Truth Social platform, with future plans to extend it to other services within the "Trump ecosphere."
- Former President Donald Trump has shown interest in cryptocurrencies since his election in 2025, launching the official TRUMP token on the Solana blockchain, which soared over $73 upon its launch.
- After the announcement of the possible utility token for Truth Social, the prices of Trump's TRUMP token and Melania Trump's meme coin on Solana experienced a slight dip.
- TMTG’s fintech arm, Truth.Fi, aims to launch "America-First"-themed financial products by year's end, including cryptocurrency and traditional equities exchange-traded funds (ETFs).
- A potential conflict of interest arises as critics question Trump's influence on policy affecting the crypto ventures and his role as "Chief Crypto Advocate" for World Liberty Financial, which partly owned by the Trump family.
