Trump Media and Technology Group (TMTG) requires a utility of cryptocurrency and wallet associated with your video streaming site Trut+. Moving is part of the broader push to integrate blockchain technology into the overall business model of a conservative social media site.
The media group has already written a letter Asking the shareholders' confirmation. In the letter, they stated that the sign could help control their wider ecosystem in the current financial environment.
TMTG said that the utility token acts as a “spine” system with a cryptocurrency engagement system that stimulates users to be active on the platform.
Token's launch date, distribution structure and name are under the windings. However, an early debate shows that the symbol is likely to be designed for platform -based operations, such as tilting, increasing content and participating in decision -making processes.
Trump Media plans to invest $ 250 million in crypto products and services
Devin Nunes, CEO of TMTG, shared the background in a letter of shareholders how each platform began. He began the truth with Social, explaining that they triggered it to provide free space from censorship and give the Americans back their voice. He then confirmed that they released True+to provide the platform to canceled news responses and content or the dangers of their cancellation.
He then discussed truth.fi, claiming that its purpose was to serve millions of investors who believe in America's great economic power.
Nunes then went to his designed utility crypto sign. He wrote: “We are studying the introduction of the utility sign within the true digital wallet, which can be used to pay truth+ order costs, and later applied to other products and services in the ecosphere of the truth.”
He also pointed out that the crypto sign and the wallet were intended as elements of the prize program, which Trump Media develops for its platforms, including the truth of the Social and Financial Services Truth.fi.fi.
For the first time, the media group hinted at the intentions to launch a crypto payment project in November 2024, when he submitted a brand application with the US Patent and Trademark Bureau. The organization searched for a computer software brand as a digital wallet, payment processing for crypto and Fiat, and digital assets trading.
TMTG has even signed an official agreement with Exchange Crypto.com and the Yorkville America America America Digital to introduce the funds traded with Exchange (ETFS), which deals with cryptocurrencies and shares on the truth.Fi platform.
In addition, the media group plans to invest up to $ 250 million from its cash reserves in Bitcoin and other cryptocurrency or cryptocurrency securities.
President Trump got his ties rebound in a crypto room
However, if TMTG releases its designed utility crypto sign, it may encourage more concerns about the conflict of the interests of President Trump.
The Trump family is now deep in the crypto world. In addition to NFT, the president and his family have established ties with the Defil.
Trump has already received a lot of setbacks with his ties around the world with Liberty Financial. He is still a company's main crypto lawyer and still gets part of the company's profits. Not to mention that his family still has a 60% stake in WLF.
He was also criticized for launching his Trump Memecoin just two days before taking office.
Analysts and political colleagues are concerned that the President's cryptocurrency projects may interfere with his duties or to later create legal challenges over authority abuse.
These troubles come when the Trump administration aggressively adopts a crypto-regulatory attitude. Following the appointment of the 47th President, Trump has promised to create a strategic reserve of bitcoin and other cryptocurrencies, greeted the top -of -the -art crypto industry characters in the White House, demanded stability -related legislation, and sent federal crypto enforcement efforts.
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