Trump Media & Technology Group, the company behind Truth Social, is planning to create a crypto token and wallet tied to its upcoming Truth+ video platform.
In a letter sent to investors on April 29, the company said this idea is part of a possible rewards system linked to its services.
CEO and Chairman Devin Nunes stated, “As part of a rewards program, 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”.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a Liquidity Pool in Crypto? (Animated)
The wallet would be used first to pay for Truth+ video content, with plans to expand its use to other products. These include Truth Social, the company’s main social media platform, and Truth.Fi, its financial services branch, launched in January.
According to the letter, Trump Media & Technology Group also plans to invest its own money in these products—up to $250 million from its current cash holdings may be allocated to Bitcoin
If the token is released, it would add to the list of meme coins tied to President Donald Trump, including OFFICIAL TRUMP (TRUMP) and Official Melania Meme (MELANIA).
Recently, Trump Media & Technology Group signed a deal with Crypto.com
$1.78B
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
