Key Takeaways:
- Trump Media is exploring a utility crypto token and digital wallet for subscription payments on its Truth+ streaming service.
- The initiative is part of a larger rewards ecosystem tied to Truth Social and financial services platform Truth.Fi.
- Trump Media’s crypto push includes ETF plans and a $250M allocation into Bitcoin and digital assets, raising potential conflict-of-interest concerns.
Trump Media and Technology Group, backed by former President Donald Trump, is exploring the launch of a cryptocurrency token and digital wallet to support subscription payments for its streaming service, Truth+.
CEO Devin Nunes informed shareholders that the proposed utility token could initially be used for Truth+ subscriptions, and later applied across Trump Media’s platforms, including Truth Social and its financial arm, Truth.Fi.
🚨NEW: In a letter to shareholders, CEO of Trump Media @DevinNunes announced the platform is mulling launching a utility token for subscription payments and possible other future uses within the ‘Truth ecosphere.’ pic.twitter.com/Sq2a6TdBdi
— Eleanor Terrett (@EleanorTerrett) April 29, 2025
The company had previously filed a trademark for crypto-related software in November.
It has also entered into agreements with Crypto.com and Yorkville America Digital to create exchange-traded funds (ETFs) focused on U.S.-based cryptocurrencies and stocks, set to launch on Truth.Fi.
Earlier this year, Trump Media announced plans to invest up to $250 million in Bitcoin and other digital assets, with Charles Schwab as custodian.
Although Trump transferred his 59% stake in the company to a trust, concerns remain about his influence in these ventures.
Trump’s role as “Chief Crypto Advocate” for World Liberty Financial, a platform in which the Trump family owns 60%, raises ethical concerns.
Additional controversy followed the January 18 launch of the Official Trump (TRUMP) memecoin, which debuted just two days before Trump’s return to the White House.