The Trump crypto empire is looking to add a new token.
Trump Media and Technology Group, the company behind the right-wing social media platform Truth Social, is exploring the launch of a “utility token” for its streaming service, Truth+.
The token would be held in a digital wallet and be used to pay for a Truth+ subscription, according to a shareholder letter on Tuesday.
It may also be used for other products and services within the family of companies that make up Trump Media and Technology Group, or TMTG.
It’s unclear when the token would launch, or on which blockchain network it would be issued.
The company did not immediately respond to a request for comment.
Trump’s media conglomerate
After President Donald Trump was booted from Twitter in 2021 following the January 6 Capitol riot, he quickly found a new home on Truth Social.
Trump owned roughly 57% of the DJT stock before transferring his holdings into the Donald J. Trump Revocable Trust after winning the election in November 2024.
Donald Trump Jr, the eldest of the president’s five children, controls the trust, according to SEC filings.
These days, TMTG is also helping the president with his ever-expanding list of crypto ventures.
TMTG announced in March that its financial services brand, called Truth.Fi, was partnering with the crypto exchange Crypto.com and Yorkville America Digital to launch a suite of cryptocurrency ETFs.
Once launched, the funds will be available to the exchange’s 140 million users, Kris Marszalek, co-founder and CEO of Crypto.com, said in a statement at the time.
Crypto.com did not immediately respond to a question about whether it is advising TMTG on the launch of its utility token.
The list of crypto ventures bearing the Trump name has ballooned since the president took office in January.
Alongside dual memecoins called Trump and Melania, after the first lady, the Trump family is also behind a DeFi protocol, a stablecoin, and a mining venture.
All told, there are four different cryptocurrencies with ties to the President. TMTG’s utility token would make it five.
The president’s role in regulating a sector which he also benefits from financially, however, has stirred concerns in Washington.
Angst in Washington
He appointed Mark Uyeda, a commissioner and former acting chair of the Securities and Exchange Commission, who has overseen the dismissal or delay of lawsuits against top crypto companies, including Coinbase and Binance.
Republican Senator French Hill said in March that the ventures were making drafting legislation “complicated.”
Democrat Senator Elizabeth Warren has issued two calls for an investigation into the family’s memecoin ventures.
The Trump coin soared 60% on April 23, after the memecoin’s website and social media channels indicated that the top 220 token holders are eligible for a gala event with the president.
“President Trump and other officials may be engaging in ‘pay-to-play’ corruption by selling presidential access to individuals or entities,” Warren and Senator Ben Schiff wrote in an April letter to Jamieson Greer, acting director of the US Office of Government Ethics.
Liam Kelly is a Berlin-based reporter for DL News. Got a tip? Email him at [email protected].
