Trump Media & Technology Group (TMTG), the parent company behind Truth Social, is exploring the idea of launching its own cryptocurrency token and digital wallet as part of a broader expansion into financial technology.
According to a letter sent to shareholders on Tuesday, TMTG is considering introducing a utility token that would initially be used for payments within its Truth+ streaming platform. Devin Nunes, CEO and Chairman of TMTG, said the token may eventually serve a wider range of applications across what the company calls its “Truth ecosystem.”
“We’re exploring a digital token as part of a rewards initiative. It would first support subscription payments for Truth+, but over time, it could be used across our suite of services,” Nunes wrote. Among those services are Truth Social—the social media network promoted as a free speech alternative—and Truth.Fi, the company’s emerging fintech brand.
Launched earlier this year, Truth.Fi is TMTG’s push into the financial sector with a focus on “America-First” investment options. The brand plans to release customized exchange-traded funds (ETFs) that incorporate both cryptocurrency and traditional stocks. In its January update, TMTG announced it would commit as much as $250 million from its cash reserves into Bitcoin and other crypto-related investments.
If the utility token does move forward, it would join an expanding universe of Trump-themed cryptocurrencies. Earlier this year, Donald Trump released his own meme coin—named TRUMP—on the Solana blockchain. However, the coin’s value took a hit following news of TMTG’s potential new token. TRUMP dropped by 3% shortly after the announcement and has slid by over 11% in the past day. Despite the dip, the coin had spiked recently after it was revealed that top holders might receive an invitation to a private dinner with the former president.
Former First Lady Melania Trump also has a meme coin on Solana. Her token has followed a similar trajectory, shedding 4.2% in value shortly after the news and dropping nearly 10% in 24 hours. The coin is now trading far below its peak price from earlier in the year.
Despite the volatility in Trump-branded crypto assets, the stock performance of TMTG remained relatively steady in after-hours trading. Shares ended the day down 3.29%, closing at $24.98—more than 26% below their value at the beginning of the year, according to Yahoo Finance data.
The potential token and wallet initiative signals TMTG’s continued effort to position itself at the intersection of conservative media and emerging financial technologies. Whether the crypto token becomes a reality remains to be seen, but it reflects the company’s growing ambitions beyond social media and into broader tech-driven ventures.