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- Trump Media and Technology Group is preparing to deepen its involvement in the crypto space, working on a utility token and a digital wallet.
- This move has raised more concerns that the president’s cryptocurrency investments might conflict with his duties.
Trump Media & Technology Group (TMTG), the company behind Truth Social, is making a bold move into the world of cryptocurrency. The company is seeking to build a crypto ecosystem, possibly a utility token and digital wallet, in an effort to incorporate blockchain technology into its growing list of social media and streaming products.
In a recent letter to shareholders ahead of its 2025 annual meeting, TMTG shared its vision for the token: it would be used for things like paying for Truth+ subscriptions, and eventually for other services within what it calls the “Truth ecosphere.” That ecosphere includes Truth Social, a social platform marketed as an alternative to mainstream media, and Truth+, a streaming service offering family-friendly shows and news.
Truth+ started out on the Truth Social app but has grown quickly. It’s now available on Android, the web, connected TVs, and has recently expanded into Canada and Mexico across iOS, Android, and smart TV platforms. Alongside that growth, TMTG also introduced Truth.Fi in January, a financial platform centered on crypto and investment tools, with a particular focus on serving “American patriots” who may feel underserved by traditional banks.
TMTG’s entry into crypto isn’t happening alone. It’s teaming up with Crypto.com and Yorkville America Digital to launch a set of exchange-traded funds (ETFs) under the Truth.Fi brand. These funds will focus on U.S.-domiciled securities and digital assets, staying true to the company’s “Made in America” philosophy.
To facilitate all of this, TMTG has authorized as much as $250 million in investments through Charles Schwab. It will invest this in ETFs, managed accounts, and cryptocurrencies like Bitcoin (BTC). The company feels that this action not only secures its own financial future but also pushes crypto deeper into the mainstream as a tool for digital payments and monetization.
Political Implications
The overlap of Trump Media & Technology Group’s (TMTG) commercial interests and President Donald Trump’s political persona is raising ethics concerns. Most recently, Senator Elizabeth Warren called on the U.S. Securities and Exchange Commission (SEC) to explain how it will police exchange-traded funds (ETFs) launched by TMTG.
Critics say Trump’s direct involvement in the crypto space, particularly through the TRUMP meme coin, further muddies the waters. The coin gained momentum after the First Lady Melania Trump also introduced a version of her Solana-based meme coin (MELANIA) that currently has a market capitalization of $ 215 million. The meme coin has experienced some volatility in the past day, having lost 6.17%, and is priced at $0.3925.
Currently, TRUMP is ranked as the fourth-largest meme coin by market capitalization of $2.53 billion, just behind PEPE. In the last 24 hours, it has dropped 5.64%, yet remains up 36.25% in the last week and currently trades at $12.73. All these changes, and the political implications that come with them, have deepened the discussion of ethics, power, and responsibility at the intersection of politics and crypto.
