Trump's Social Media Eyes Launching New Cryptocurrency

Trump Media & Technology Group, the parent firm behind Truth Social, is eyeing a deeper move into the crypto world. By. a.m.pdca@output.com. Updated Apr 27, 2023, 3:03 a.m. PDT.

The parent firm behind Trump’s social media venture is planning to introduce a cryptocurrency token as part of a broader move to expand into the crypto world.

Trump Media & Technology Group (TMG) is developing a digital rewards system around a utility token that will be integrated into a Truth-branded wallet, according to a recent update shared with shareholders.

The token could initially be used to pay for premium services on the platform, such as subscriptions to Truth+. Over time, the token could gain broader functionality across other offerings within the Truth digital ecosystem.

This announcement follows recent developments that signal the company’s growing interest in blockchain-based finance.

Earlier this month, Trump Media struck partnerships with Crypto.com and Yorkville America Digital to launch a range of crypto-linked financial products through its fintech arm, Truth.Fi.

That division was first hinted at last year when a trademark application surfaced, detailing plans for wallet software and digital finance services.

The company appears to be steadily building the infrastructure for a broader crypto integration strategy, one that merges media, payments, and digital asset exposure into a single ecosystem.