Trump Media & Technology Group (TMTG), the organization behind the social media platform Truth Social and associated with former President Donald Trump, is exploring the possibility of introducing a utility token along with a digital wallet as part of an enhancement of its streaming service, Truth+.
This revelation emerged from a letter addressed to shareholders by CEO and chairman Devin Nunes on Tuesday, leading up to the company’s annual shareholder meeting.
In his correspondence, Nunes outlined that the envisioned utility token would be integrated into a rewards program, potentially allowing users to finance their subscriptions to Truth+ with it.
He indicated that, as time progresses, the token could extend its functionality to encompass other services within the wider Truth ecosystem.
Use of Crypto-Language Without Direct Acknowledgment
Importantly, the letter refrained from explicitly categorizing the token as a cryptocurrency or confirming any blockchain association; however, the terminology employed closely mirrors that typically used in the cryptocurrency sphere.
TMTG operates Truth Social, a platform inspired by X (formerly known as Twitter), which Trump initiated following his exclusion from major social media networks for policy violations.
The company went public in March 2024 and at one point was valued at nearly $8 billion despite generating limited revenue. Currently, its market capitalization hovers around $5.5 billion.
This isn’t TMTG’s inaugural venture into the realm of digital assets. Earlier this year, the company unveiled Truth.fi, a financial technology sector focused on investments in Bitcoin and cryptocurrencies.
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
Additionally, TMTG has disclosed plans to collaborate with Crypto.com to launch exchange-traded funds (ETFs) that focus on cryptocurrency investments.
The forthcoming wallet and utility token for Truth+ would complement an expanding range of crypto-related initiatives associated with Trump and his affiliates.
These endeavors include NFTs, memecoins, a stablecoin project, operations in Bitcoin mining, and a decentralized finance platform named World Liberty Financial. Reports also indicate that a Trump-themed real estate video game is in the works.
Such advancements coincide with the Trump administration’s continuing promotion of a pro-cryptocurrency agenda.
Following his return to office, Trump has sanctioned the establishment of a strategic digital asset reserve, supported legislative measures for stablecoins, and eased regulatory measures against cryptocurrency initiatives across several federal agencies.
SEC Chair Paul Atkins Advocates for Crypto
As related, Paul Atkins took the oath as Chairman of the SEC earlier this month, a change in leadership that is being positively received within the digital asset domain.
Under Atkins’ guidance, the SEC has begun to retract or postpone several significant lawsuits involving cryptocurrency companies.
This includes the dismissal of lawsuits against Coinbase and Cumberland DRW earlier this year, along with the closure of a separate probe into Uniswap Labs in February, which resulted in no enforcement actions.
Most recently, the SEC announced it would not take further legal steps against Richard Schueler, commonly known as Richard Heart, the founder of Hex, PulseChain, and PulseX.
The post Trump’s Truth+ Considers Adding Crypto Wallet and Token: Report appeared first on Finance Newso.
