Trump Media and Technology Group, the company behind Truth Social, is considering launching a crypto asset and wallet.
The initiative, which would integrate a digital currency into the platform’s ecosystem, aims to enhance its rewards program.
According to a shareholder letter shared by the President Trump-backed firm, the utility token could initially be used for Truth+ subscription payments. Meanwhile, plans are underway to expand its use across other services within the Truth ecosystem.
The company intends to invest alongside its shareholders in these proposed financial products. In November, Trump Media took its first step toward exploring the cryptocurrency payments space by submitting a trademark application to the U.S. Patent and Trademark Office.
The Truth Ecosphere
Notably, Trump Media’s “Truth Ecosphere” includes several products to expand its influence across various sectors. One of the most prominent is Truth Social, a social media platform developed to provide Americans with an alternative to mainstream platforms. This platform aims to restore a voice to the public, especially for those who feel marginalized in digital spaces.
In addition to Truth Social, the company has ventured into the financial sector by creating Truth.Fi, a fintech arm that is already deeply involved with crypto.
Truth.Fi and Financial Expansion
Launched in January, Truth.Fi is a key part of Trump Media’s broader strategy to diversify its business operations. The new financial services and fintech arm aims to offer products that align with the company’s “America-First” theme.
Truth.Fi plans to roll out customized exchange-traded funds (ETFs) that combine cryptocurrencies and traditional equities by the end of the year.
The launch of Truth.Fi also includes plans to purchase crypto and crypto-related securities. Trump Media has set aside $250 million in cash for this purpose, with the funds being custodied by Charles Schwab.
Potential Conflicts and Existing Tokens
If the proposed crypto token is launched, it would add to the existing roster of Trump-related digital assets. Earlier this year, Donald Trump unveiled his own meme coin, TRUMP, on the Solana blockchain. This token joins a growing list of similar digital assets, including one that First Lady Melania Trump launched.
Critics argue that such ventures may overlap with his official duties, raising questions about ethical implications. However, as of now, there are no indications that this has slowed Trump Media’s momentum in the crypto space.
Crypto Payment in Dubai Trump Tower
Meanwhile, Eric Trump, Vice President of the Trump Organization, confirmed that the company would accept crypto for transactions at a newly announced luxury development in Dubai.
In collaboration with Dar Global, this project will include high-end real estate and a Trump-branded hotel. The decision to accept crypto payments marks a significant development in the Trump organization’s embrace of digital assets.
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