The social network Truth Social, owned by Trump Media & Technology Group (TMTG), has announced its intention to release its own utility token for the Truth+ ecosystem. According to reports from July 10, 2025, the token will be tied to a loyalty program, where users can earn 'gems' for activity, which will be converted into tokens. Initially, the token will be used to pay for a subscription to Truth+, and in the future, for other services on the platform. This was reported by Cointelegraph and other sources.
This step is part of TMTG's strategy to diversify its business, as Truth Social is facing difficulties in attracting advertising revenue, reporting losses of $31 million for the first quarter of 2025. TMTG is also actively moving into the crypto space, planning to launch an ETF for Bitcoin and Ethereum, as well as creating a Bitcoin treasury worth $2.5 billion. The launch of the token could contribute to the mass adoption of cryptocurrencies and strengthen Truth Social's position in the 'patriotic' community.
#DeFi #Cryptocurrency #Web3 #CryptoNews
