The Trump Media and Technology Group, the social media conglomerate supported by US president Donald Trump, is considering the integration of a crypto token and purse at the video streaming site, truth+.
“We research the introduction of a utility token within a digital digital purse that can be used at first to pay for the fact+ subscription costs, and will eventually apply to other reality products and services ecosphere,” the Trump Media CEO wrote Devin Nunes in a letter April 29.
He added that the crypto and purse token would be part of a reward program explored by Trump Media throughout its services, which included the social media platform of society society and the financial service platform.
Trump Media first signed plans for a potential crypto payment adventure in November when it filed a trademark application with the US patent and trademark office for computer software designed to operate as a digital purse, enable digital asset trading and crypto payments process in fact.
The truth+ was launched in October, offered films and shows basic targeting to a political conservative audience.
Trump Media has signed a binding agreement with Crypto Exchange Crypto.com and Asset Manager Yorkville America Digital to launch funds exchanged by Exchange (ETF) that will include crypto and stocks “with a focus on America Focus” to launch on TRUTH.FI.
The company said in January that it plans to invest up to $ 250 million of its cash reserves in a range of financial products, including Bitcoin (BTC) and other crypto tokens or crypto-related security tokens, which asset manager Charles Schwab can be customed.
More potential for conflict of interest
Launching a Trump's media utility token will only increase concerns about adventures related to crypto that potentially contradict his duties. Trump, however, moved His 59% stake in a trust last December.
Related: The first 100 days 'worst of Trump in history' in spite of the crypto promise
Trump was also criticized for supporting the Crypto World Liberty Financial platform, where he named the company's “Chief Crypto Advocate” and gained a portion of its income.
Some senators have raised concerns that Trump's influence on policy may benefit the independence of the world, which is 60% owned by the Trump family.
Trump also received a backlash for the controversial launch of his memecoin, official Trump (Trump), just January 18-two days before he re-entered the White House.
Magazine: Crypto adventures of Trump's crypto raises conflict of interest, insider trading questions
