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Trump's Truth Social Mulls Launching Token for Subscriptions in Latest Crypto Push
The company also plans to forge ahead with its ETFs, which will include cryptocurrencies.
Updated Apr 29, 2025, 10:41 p.m. Published Apr 29, 2025, 9:39 p.m.
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What to know:
- Truth Social is considering launching a cryptocurrency as part of a rewards program with a digital wallet for subscription payments.
- The company plans to explore exchange-traded funds that combine equities with cryptocurrencies.
- Trump's team has previously introduced various crypto products, including memecoins and NFT collections.
Truth Social, the social media platform owned by Trump Media & Technology Group (DJT), which is majority-owned by U.S. President Donald Trump, is considering launching a cryptocurrency.
"As part of our rewards program, we're exploring the introduction of a utility token with a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere," the company said in a letter to its shareholders on Tuesday.
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DJT barely reacted to the news; the stock is down 0.52% in after-hours trading.
The company is also looking into launching exchange-traded funds (ETFs) that will combine equities with cryptocurrencies, the letter reiterated.
Trump's entourage has released a panoply of crypto products over the years, including memecoins, NFT collections, and a DeFi protocol.
Read more: Trump Media Wants to Partner with Crypto.Com for ETP Issuance
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Wall Street giant Apollo deepens crypto push with Morpho token deal
The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.
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- Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
- The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
- The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
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