Trump Media and Technology Group Considers Launching a Crypto Asset and Wallet

Trump Media and Technology Group, the company behind the social media platform Truth Social, is exploring the possibility of launching its own crypto asset and wallet, according to a report by The Block.

The initiative, which would see a digital currency integrated into the platform’s ecosystem, is part of broader efforts to expand the company’s offerings and enhance its rewards program.

The utility token could initially be used for Truth+ subscription payments, with plans to expand its use across other services within the Truth ecosystem. The company intends to invest alongside its shareholders in these proposed financial products.

The company is applying for the necessary licenses and approvals from relevant authorities in the U.S. to facilitate the integration of crypto into its operations.

Trump Media is also planning to launch a new fintech arm, which will be named Truth.Fi. This arm will focus on developing financial products and services that align with the company’s “America-First” theme.

Truth.Fi aims 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, which will be custodied by Charles Schwab.

These initiatives follow Trump Media’s submission of a trademark application to the U.S. Patent and Trademark Office in November for the name, logo, and operating system of the Truth Social platform.

The application hints at broader plans for the Trump brand in the Web3 and crypto domains.

This development adds 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, there are no indications that this has slowed Trump Media’s momentum in the crypto space.

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.

This post has been modified to reflect that the Trump Organization will accept crypto at a newly announced luxury development in Dubai, a joint venture with Dar Global. The project, which includes a Trump-branded hotel and a tower designed by the renowned architect, aims to expand the Trump brand's footprint in the Middle East.

The Trump Organization is also planning to launch a new fintech arm, which will be named Truth.Fi. This arm will focus on developing financial products and services 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, which will be custodied by Charles Schwab.

These initiatives follow Trump Media’s submission of a trademark application to the U.S. Patent and Trademark Office in November for the name, logo, and operating system of the Truth Social platform.

The application hints at broader plans for the Trump brand in the Web3 and crypto domains.

This development adds 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.