TLDR:
- Truth Social is considering launching a cryptocurrency token and digital wallet as part of a rewards program
- The token would initially be used for Truth+ subscription payments and later for other services in the “Truth ecosphere”
- Trump Media plans to explore ETFs combining equities with cryptocurrencies with an “America-First” focus
- The company previously announced plans to invest up to $250 million in Bitcoin and crypto-related securities
- This adds to Trump-related crypto ventures, including his official Solana meme coin (TRUMP) and various NFT collections
Donald Trump’s social media platform Truth Social is exploring the launch of a cryptocurrency token and digital wallet, according to a letter to shareholders released on Tuesday, April 29, 2025.
The announcement marks the latest crypto push from Trump Media & Technology Group (DJT), which is majority-owned by the current U.S. President.
The company’s CEO Devin Nunes wrote that the token would be part of a rewards program across Trump Media’s services.
“We’re exploring the introduction of a utility token within 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,” Nunes stated in the letter.
Trump Media first hinted at crypto payment plans last November when it filed a trademark application with the U.S. Patent and Trademark Office. The application covered software designed to function as a digital wallet, enable digital asset trading, and process crypto payments on Truth.Fi.
The “Truth ecosphere” includes the Truth Social platform, the Truth+ streaming service, and Truth.Fi, the company’s financial services platform. Truth+ launched in October 2024, offering content primarily targeting a conservative audience.
Trump’s Growing Crypto Portfolio
This potential token launch would add to an already extensive list of Trump-related crypto ventures. The President has his official meme coin (TRUMP) running on the Solana blockchain, which reached an all-time high of over $73 in January before declining.
According to market data, the TRUMP token fell 3% in the hour after the shareholder letter was published and has dropped 11% in the last day. The token did see a surge last week when the project announced plans to reward top token holders with an exclusive dinner with Trump.
TRUMP Price
First Lady Melania Trump also has an official meme coin on Solana. That token has dropped 4.2% in the last hour and 9.5% in the last 24 hours to $0.40—nearly 97% off its January all-time high of $13.05.
Trump’s team has previously released various other crypto products, including NFT collections and a DeFi protocol. The growing number of crypto ventures connected to the President has raised concerns about potential conflicts of interest.
Financial Expansions
Beyond the token, Trump Media also plans to launch exchange-traded funds (ETFs) that will combine cryptocurrencies and traditional equities “with a Made in America focus” on the Truth.Fi platform. The company has signed binding agreements with crypto exchange Crypto.com and asset manager Yorkville America Digital for these ETFs.
In January, Trump Media announced plans to invest up to $250 million of its cash reserves into various financial products. These include Bitcoin and other crypto tokens or crypto-related securities, which would be custodied by asset manager Charles Schwab.
Despite the crypto announcement, DJT stock showed little reaction. Shares were down 0.52% in after-hours trading following the news. At Tuesday’s market close, shares had fallen 3.29% to $24.98, representing a decline of more than 26% year-to-date.
The company will hold its annual meeting on Wednesday, May 1, where more details about these initiatives may be revealed.
Some lawmakers have expressed concerns that Trump’s influence on policy could benefit his crypto ventures, even though he transferred his 59% stake in Trump Media into a trust last December. Trump has also faced criticism for his role as “Chief Crypto Advocate” for World Liberty Financial, where he receives a portion of profits.
The potential Truth Social token launch comes at a time when the President’s influence in the crypto space continues to grow, despite his previous statements in 2019 that he was “not a fan” of Bitcoin and cryptocurrencies.
