- Trump Media plans to launch a utility token and digital wallet linked to its Truth+ service.
- The token may be used for Truth+ subscriptions and other offerings within the Truth ecosystem.
- Trump Media’s crypto push adds to growing concerns over potential political conflicts of interest.
Trump Media & Technology Group proposed to introduce a utility token and digital wallet tied to its streaming platform. The move was revealed in a shareholder letter from CEO Devin Nunes ahead of the company’s annual meeting.
The utility token would be part of a rewards system within a Truth digital wallet. Users could use the token to pay for subscriptions to Truth+, Trump Media’s streaming service. Later, it may also be accepted across other services in the company’s ecosystem.
Nunes said the company aims to provide new tools for “patriotic Americans” as part of a broader expansion strategy. However, he did not confirm whether the token would be based on blockchain technology. The terms used in the announcement are typically associated with cryptocurrencies.
Trump Media operates Truth Social, a social platform launched after Trump was removed from X and Facebook. It went public in March 2024 and reached a valuation of nearly $8 billion before falling to around $5.5 billion. In January, the company announced the launch of Truth.Fi, a fintech vertical that plans to invest in Bitcoin and digital assets. It also formed a partnership with Crypto.com to create ETFs focused on cryptocurrencies and U.S.-based stocks.
Trump Media’s letter suggests the digital wallet and token are part of a larger crypto expansion. It follows trademark filings last year for software capable of managing digital wallets and processing crypto payments. The proposed token would initially cover subscription costs for Truth+. The platform launched in October and features content aimed at conservative audiences. It is designed to offer an alternative to mainstream streaming services.
The company said it may expand the token’s use to include access to other digital products. Trump Media has also expressed interest in stablecoins, Bitcoin mining, and NFTs.
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After being elected as President for the second time, Trump pushed for a pro-crypto agenda. He has authorized the creation of a strategic Bitcoin reserve and supported new crypto legislation. His administration has reduced funding for federal crypto investigations. Trump previously transferred his 59% stake in Trump Media to a trust. Despite this, critics have raised concerns over potential conflicts of interest.
Some lawmakers are wary of Trump’s ties to World Liberty Financial, where he is listed as Chief Crypto Advocate. The company is partially owned by the Trump family and benefits from his regulatory moves. Trump has also launched a memecoin and supported various blockchain ventures. The new token plan may intensify scrutiny of how policy and personal business overlap. A final launch date or technical details for the utility token and wallet have not been announced.
