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CoinDesk 2025-04-29 21:39:38

Trump's Truth Social Mulls Launching Token for Subscriptions in Latest Crypto Push

Trump's Truth Social Mulls Launching Token for Subscriptions in Latest Crypto Push

Truth Social, the social media platform owned by Trump Media & Technology Group (DJT), which is majority-owned by U.S. President Donald Trump, is considering launching a cryptocurrency. "As part of our rewards program, we're exploring the introduction of a utility token with a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere," the company said in a letter to its shareholders on Tuesday. DJT barely reacted to the news; the stock is down 0.52% in after-hours trading. The company is also looking into launching exchange-traded funds (ETFs) that will combine equities with cryptocurrencies, the letter reiterated. Trump's entourage has released a panoply of crypto products over the years, including memecoins, NFT collections, and a DeFi protocol. Read more: Trump Media Wants to Partner with Crypto.Com for ETP Issuance

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