Trump Media and Technology Group (TMTG), the company behind the right-wing social platform Truth Social, is exploring a new digital frontier: the launch of a “utility token” dedicated to the streaming service Truth+.
The token, which will be stored in a digital wallet, could be used to pay for the subscription to Truth+ and perhaps also to access other products and services within the family of companies controlled by TMTG.
Although the precise launch date is not yet known, nor the blockchain on which it will be issued, this project marks a significant step towards the creation of an integrated digital ecosystem, with the media presence of the current president Donald Trump at its center.
Trump Media and the launch of the token for Truth Social
Since Trump was banned from Twitter in 2021, following the events of January 6 at the Capitol, his social presence quickly shifted to Truth Social.
Before his electoral victory in November 2024, Donald Trump owned about 57% of the DJT stock of TMTG, which he subsequently transferred to a revocable trust, controlled by his eldest son, Donald Trump Jr.
In the meantime, the TMTG group not only manages the social network but has impressively expanded its presence in the world of cryptocurrencies.
In March 2024, a partnership was announced between its financial division Truth.Fi and the platform Crypto.com, together with Yorkville America Digital, for the launch of a series of cryptocurrency ETFs.
These funds will be available for 140 million users, expanding the offering of digital products globally.
The range of crypto initiatives associated with the name Trump has become increasingly broad since the president took office in January. In addition to two memecoin, called Trump and Melania, the family is behind:
– a DeFi (decentralized finance) protocol,
– a stablecoin (cryptocurrency pegged to stable assets to counteract volatility),
– and an initiative of mining (extraction of cryptocurrencies through computational calculation).
Overall, there are four cryptocurrencies directly linked to the figure of the president. The utility token of TMTG would therefore mark the fifth initiative in this field.
The involvement of Trump in such a delicate and volatile sector as cryptocurrency, precisely while he holds a government role, has raised numerous concerns in Washington.
The president has appointed Mark Uyeda, former commissioner and interim chairman of the Securities and Exchange Commission, known for delaying or rejecting cases against large crypto companies, such as Coinbase and Binance.
The boom of the Trump coin and the exclusive event
This situation has complicated the drafting of specific legislation on criptovalute. In March 2024, Republican Senator French Hill admitted that initiatives related to Trump are making the work of legislators difficult.
From the other political side, Democratic Senator Elizabeth Warren has twice called for an investigation into the memecoins linked to the Trump family.
Warren and Senator Ben Schiff have made accusations of possible “pay-to-play”, that is, the sale of privileged access to the president in exchange for economic advantages.
These concerns have been raised in a letter addressed to Jamieson Greer, interim director of the Office of Government Ethics USA.
On April 23, 2024, the Trump cryptocurrency recorded a 60% surge, following the announcement that the first 220 holders of the token would be able to participate in an exclusive event with the president.
This initiative immediately raised the level of media and market attention on the credibility and potential of the Trump-branded crypto initiatives.
The event, seen as a unique opportunity for a “direct meeting” with the president for the largest investors of the token, has fueled discussions on the ethics and transparency of financial operations connected to public figures.
The advance of Trump Media in the world of cryptocurrencies reflects an ambitious strategy: to transform a traditional media group into a true digital holding, where streaming, social media, decentralized finance, and virtual currencies intertwine.
Perspectives for the Truth+ token and the digital landscape
However, the tensions between political power and financial interests are evident.
The lack of clarity on the timing of the token launch and the technological platforms involved creates an aura of mystery, compounded by bipartisan criticism that questions the legitimacy of the business dealings related to the president.
The project of the token for Truth+ represents an important evolution for Trump Media, potentially capable of consolidating the user base, monetizing the content, and creating a dynamic internal market.
As a result, it could pave the way for further crypto and financial innovations, integrating digital services and building customer loyalty.
However, the success of this initiative will depend on TMTG’s ability to address ethical and regulatory concerns, ensuring transparency and legitimacy.
The crypto market remains volatile and complex, and the challenge will be to balance technological innovation with responsible governance.
For observers and investors, the moment is crucial: it is advisable to closely monitor the regulatory developments and the strategic moves of Trump Media, because they could redefine the boundaries between politics, finance, and technology in the near future.
Ultimately, the Truth+ token is not just a simple digital product. It represents an emblematic episode of the growing influence of digital in contemporary politics, with all the opportunities and challenges that arise from it.
Maintaining high critical attention and constantly staying informed will be essential to correctly interpret this new phenomenon.
