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Trump Media & Technology Group is exploring new moves in the crypto space. The company behind the Truth+ streaming app has confirmed it is considering a utility token and a digital wallet, with plans to expand its reach across fintech and investment services.
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In a letter to shareholders, Trump Media chairman Devin Nunes said the company is reviewing plans to introduce a utility token along with a Truth digital wallet. The token may initially be used for subscription payments on Truth+ and could later expand to support other services within the platform.
The crypto token news comes as the Solana-based memecoin TRUMP is currently down more than 3% over the last 24 hours, trading at $12.71 at time of writing. The token ranks 39th by market cap, and some traders may have responded to uncertainty around the platform’s plans.
Beyond subscriptions, Trump Media is also rolling out new financial services under the Truth.Fi brand. Launched earlier this year in partnership with Charles Schwab, the initiative is developing exchange-traded funds (ETFs) and separately managed accounts (SMAs). Both will focus on what Nunes called an “America-First” investment theme.
Nunes confirmed that the first Truth.Fi products will consist of ETF and SMA portfolios with a mix of traditional equities and cryptocurrencies. Trump Media is collaborating with multiple firms for development: Index Technologies Group and Yorkville America Equities for SMAs, and Crypto.com with Yorkville America Digital for ETFs.
The board has already approved a $250 Million allocation, to be managed by Charles Schwab, that will support these investments. Capital may be directed toward ETFs, SMAs, digital assets such as Bitcoin, and other investment vehicles. Trump Media also plans to co-invest in these financial products using internal cash reserves.
Nunes stated in the letter, “To launch our financial products, Trump Media partnered with top-quality companies that have great synergy with our business and vision.”