President Trump’s Truth+ Considering Releasing New ‘Utility Token’ and Crypto Wallet for Its Ecosystem
President Donald Trump's truth+ video streaming app is considered the release of a utility token.
Devin Nunes, the Chief Executive and Chairman of the Trump Media & Technology Group (TMTG), says the new SHAREHOLDER letter That the firm explores a token and a “truth digital wallet.”
Nunes, a former member of Congress, said the token can be used to pay for the fact+ subscription cost and “will eventually apply to other products and services to the fact of the ecosphere.”
Trump's controversial Solana (SOL) Memecoin, Trump, scored after the news. The 48th Crypto Asset rank by Market Cap traded at $ 12.70 at the time of writing and dropped by more than 7% in the past 24 hours.
In January, TMTG announced a partnership with giant financial service Charles Schwab to launch Truth.Fi, a fintech firm with crypto services.
As a way of diverting the company's reserves, the TMTG Board approved an investment of $ 250 million to be custodized by Charles Schwab, who could go to investment vehicles, funds exchanged (ETF), other managed accounts (SMA), as well as Bitcoin (BTC) and other digital assets.
In a recent shareholder letter, Nunes said the first two facts.Fi products will be slates of that -customized SMA and ETF.
“Both products will have a first American theme, focusing on a diverse range of companies in many industries, along with ETFs that offer both cryptocurrencies and traditional equality.
To launch our financial products, Trump Media has cooperated with the top quality companies with great synergy in our business and vision. We joined Index Technologies Group and Yorkville America Equities to form SMAs, and with Crypto.com and Yorkville America digital to form ETFs.
Trump Media plans to invest, next to you, with these products through its own cash reserves. “
Trump's adventures in the crypto world have developed significant public criticism: Ethhereum (ETH) founder Vitalik Blerin said earlier this year that political coins represent “vehicles for unlimited political bribery.”
In a February Letter In the US Department of Justice (DOJ) and government government office, nonprofit consumer advocacy officials argued that Trump's memecoin could violate federal law that controls gifts to government officials.
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