Trump Media & Technology Group Explores Launching a Cryptocurrency Token and Digital Wallet

This move represents the latest venture into digital assets by Trump-affiliated businesses.

President Trump, known for his ventures in the realm of both politics and pastries, might soon be adding another item to his portfolio: cryptocurrency.

At least one of Trump’s companies is planning to explore launching its own cryptocurrency token and digital wallet, according to a new shareholder letter from the company.

Trump Media & Technology Group, the company behind Truth Social and Truth+. is planning to introduce a utility token that would serve as payment for Truth+ subscription costs, according to a letter from CEO Devin Nunes.

The token would also expand to cover other products within what Nunes calls the “Truth ecosphere.”

The Truth ecosystem currently includes the company’s flagship social media platform, Truth Social, which President Trump favors over X (formerly Twitter). It also includes Truth.Fi, the company’s fintech brand.

The company launched Truth+, its streaming video service, in October, aiming to provide an alternative to platforms like Block Inc.'s (NYSE:SQ) Squid Games and service offerings from Walt Disney (NYSE:WDI) and Paramount (NASDAQ:PARA) to target politically conservative viewers.

The company is hoping to offer investors access to "America-First" themed financial products by year-end 2025 through Truth.Fi. These products will include customized exchange-traded funds (ETFs) combining both cryptocurrencies and traditional equities.

Trump Media has already signed binding agreements with cryptocurrency exchange Crypto.com and asset management firm Yorkville America Digital to launch these ETFs with a "Made in America focus." The company stated it plans to invest alongside its shareholders in these financial products.

However, despite transferring his 59% stake in Trump Media to a trust last December, some have raised concerns about potential conflicts of interest. Critics have pointed to his role as "Chief Crypto Advocate" for World Liberty Financial, where he draws a portion of profits from the firm's crypto endeavors.

Senators have questioned whether Trump's influence on policy could be beneficial to World Liberty, which is 60% owned by the Trump family, and whether his involvement in launching a utility token for Trump Media could present further conflicts of interest.

This isn't the first time Trump has signaled interest in crypto. Last November, the company filed a trademark application with the U.S. Patent and Trademark Office for computer software designed to function as a digital wallet, enable digital asset trading, and process crypto payments on Truth.Fi.

The company also announced plans in January to invest up to $250 million of its cash reserves in Bitcoin and similar crypto assets or crypto-related securities.

The move comes as the company faces financial pressure. It reported a net loss of $57.4 million for the third quarter, driven by a $64.4 million impairment charge related to an equity investment. Operating expenses also soared by 88% quarter-over-quarter.

Despite this, Trump Media managed to increase its revenue threefold to $2.1 million, driven by the launch of Truth+ and an increase in user spending within the Truth Social app.

The company's stock price has seen better days, closing Tuesday down 3.29% at $24.98 and showcasing a year-to-date decline of over 26%.

After showing a slight uptick following the announcement of the potential crypto token, the stock experienced a downturn in extended trading, currently down 1.20%.

The company's stock performance might be a factor in the administration's interest in boosting the U.S. economy with a focus on financial innovation, which aligns with the company's stated goal of offering "America-First" financial products.

The potential crypto token follows earlier signals of Trump Media's interest in digital assets. Last November, the company filed a trademark application with the U.S. Patent and Trademark Office for computer software designed to function as a digital wallet, enable digital asset trading, and process crypto payments on Truth.Fi.

This move comes as no surprise given the company's previous announcement in January of plans to invest up to $250 million of its cash reserves in Bitcoin and similar crypto assets or crypto-related securities.

The company stated it is exploring investing alongside its shareholders in these financial products, which could be a strategic move to engage and retain investors.

However, despite transferring his 59% stake in Trump Media to a trust last December, some have raised concerns about potential conflicts of interest.

Critics have pointed to Trump's role as "Chief Crypto Advocate" for World Liberty Financial, where he draws a portion of profits from the firm's crypto endeavors.

Senators have questioned whether Trump's influence on policy could be beneficial to World Liberty, which is 60% owned by the Trump family, and whether his involvement in launching a utility token for Trump Media could present further conflicts of interest.

These concerns highlight the broader issues surrounding the intersection of political, economic, and technological power in the age of