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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 US Patent and Trademark Office.
In the filing, the company described a computer software designed to function as a digital wallet, enable digital asset trading, as well as process crypto payments on Truth.Fi.
NEW: In a letter to shareholders, CEO of Trump Media @DevinNunes announced the platform is mulling launching a utility token for subscription payments and possible other future uses within the ‘Truth ecosphere.’ pic.twitter.com/Sq2a6TdBdi
— Eleanor Terrett (@EleanorTerrett) April 29, 2025
Trump Media Shares Bounce Back
Since going public on March 26 last year, Trump Media has seen its share price drop. Year-to-date, shares in the company are down over 26%, data from Google Finance shows.
In the last month, however, the stock price has surged more than 27%.
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