Donald Trump's media company, TMTG, is planning to launch a utility token and digital wallet

TMTG, which went public in March 2024, operates Truth Social, a social media platform similar to X (formerly Twitter).

Donald Trump’s media company, Trump Media & Technology Group (TMTG), is planning to launch a utility token and digital wallet as part of its rewards program for “patriotic Americans.”

Announcing the company’s vision to expand its product line, including the upcoming streaming service, Truth+, CEO Devin Nunes said in a letter to shareholders ahead of the company’s annual meeting: “We will be introducing a new utility token and digital wallet to provide even more value to our shareholders and the members of the Truth social community.”

The utility token, if launched, could be used to pay for Truth+ subscriptions and later apply to other services within the Truth ecosystem.

While Nunes didn’t confirm whether the token would run on blockchain, the use of terms like “utility token” and “digital wallet” strongly hint at crypto-based technology.

TMTG, which went public in March 2024, operates the social media platform, Truth Social, similar to X (formerly Twitter). Despite low revenue, the company soared to a market value of $8 billion earlier this year and now stands at $5.5 billion.

This is not the only crypto project with the Trump brand; the company has recently introduced Truth.fi as a fintech branch to invest in Bitcoin and crypto ETFs with Crypto.com.

Trump has also invested in cryptocurrencies such as NFTs, memecoins, a Bitcoin mining company, DeFi app World Liberty Financial, a stablecoin, and Trump-themed real estate video game.

This comes as the Trump administration embraces a pro-crypto stance, backing Bitcoin reserves, stablecoin laws, and a friendlier regulatory environment for the digital asset industry.

Also Read: Trump Media, Crypto.com, Yorkville to Launch ‘America-First’ ETFs