Trump Media Mulls Utility Token And Digital Wallet In Latest Crypto Push
Donald Trump’s Trump Media and Technology Group is considering expanding its crypto ambitions by introducing a utility token and digital wallet. In an April 29 letter to shareholders, CEO Devin Nunes said the firm is exploring a Truth Social digital wallet where the token could be used for Truth+ subscriptions and other products within the Truth ecosystem. The token would also support a planned rewards program across the company’s services. Trump Media’s crypto push also includes the development of “America first”-themed financial products such as ETFs (exchange-traded funds) and separately managed accounts (SMAs), with custody provided by Charles Schwab. The company said in January that it would invest up to $250 million of its cash reserves in Bitcoin and other digital assets The shareholders’ letter comes after Trump Media hinted at launching its own crypto payments offering in November last year, when it filed a trademark application with the...