Trump Media TMTG Plans to Issue Tokens Integrated into Truth Social Wallet with Subscription Memberships
Trump Media & Technology Group Plans to Launch Utility Token
U.S. President Donald Trump’s media company, Trump Media & Technology Group (TMTG), plans to launch a utility token that will be integrated into the digital wallet within the Truth Social community platform and used to pay for Truth+ subscription fees.
Truth.Fi Fintech Brand to Debut by the End of 2023
Reports indicate that as early as November 2023, Trump’s media company, TMTG, had filed a trademark application for its fintech subsidiary, Truth.Fi, which includes digital wallet software and cryptocurrency applications.
By January 2024, after Trump resumes the presidency, TMTG will officially launch Truth.Fi, positioning it as a fintech platform that combines cryptocurrency payments, asset management, and financial products, further expanding Trump’s digital influence.
Partnership with Crypto.com and Yorkville to Launch Digital Asset ETF
Shortly thereafter, TMTG announced a collaboration with the well-known exchange Crypto.com and asset management firm Yorkville America Digital to launch a digital asset and security-type ETF centered around “Made in America” through Truth.Fi.
Trump Coin Surpasses $2.6 Billion Market Value, Dinner Invitation Giveaway
In January, Trump personally promoted Trump Coin (TRUMP), which surged to a market value of $2.6 billion due to Trump’s support and promotion.
Notably, top holders of the coin were given the opportunity to participate in a private dinner with Trump, a “buy-coin-for-privilege” design that sparked criticism for blurring the lines of political ethics.
Short-Term Decline of Trump Coin, Yet Overall Interest Remains High
Currently, Trump Coin (TRUMP) has dropped to approximately $13 per coin, but due to its direct association with the Trump brand, it is still regarded as a highly speculative political cryptocurrency in the market.
Web3 is Trump’s New Battleground, But Risks Accompany
From Truth Social, Truth+, and Truth.Fi to Trump Coin, and the ETF issuance in collaboration with the well-known exchange Crypto.com, the Trump family is attempting to create a Web3 ecosystem that integrates social media, cryptocurrency assets, and political influence. However, there are many questions from the outside:
- Are these tokens compliant?
- Is there any political quid pro quo?
- Will it attract investigations from the SEC or Congress?
The answers are still unclear, but it is certain that Web3 has become the new arena for Trump’s political and economic power struggle.
(Trump Media and Crypto.com collaborate to create an America First ETF, CRO rises 15% without hesitation)
Risk Warning
Investing in cryptocurrency involves high risks, and its price may fluctuate dramatically. You may lose your entire principal. Please assess the risks cautiously.
