Trump Media plans crypto integration for streaming service
New York / Munich (IT BoltWise)-Trump Media and Technology Group, supported by US President Donald Trump, is considering integration of a crypto token and a digital wallet into his video streaming platform Truth+.
Trump Media and Technology Group, who supported US President Donald Trump, plans to introduce a crypto token and a digital wallet for his video streaming platform Truth+. In a letter dated April 29 to the shareholders, Trump Media CEO Devin Nunes explained that the company tested the introduction of a utility token within a Truth digital wallet. This token could initially be used to pay Truth+ subscription costs and later expand to other products and services in the Truth ecosystem. This initiative is part of a reward program that Trump Media explores for its services, including the social platform Truth Social and the Financial Service platform Truth.Fi. Already in November last year, Trump had indicated plans for a crypto payment project when it submitted a brand registration for the US patent and brand office for software that acts as a digital wallet, enable digital assets and to process crypto payments on TRUTH.FI. Truth+ was started in October and offers films and shows that mainly appeal to a politically conservative audience. Trump Media has signed a binding agreement with the crypto exchange crypto.com and the asset manager Yorkville America Digital to launch stock market-traded funds (ETFs), which include crypto and stocks with a 'made in America' focus on truth.fi. In January, the company announced that it is planning to invest up to $ 250 million of its barreserves in a number of financial products, including Bitcoin and other crypto tokens or crypto-related securities that are to be kept by asset managers Charles Schwab. However, the introduction of a Trump Media Utility token could increase concerns about potential conflicts of interest from the President in relation to his crypto-related activities. However, Trump transferred its 59%share to a trust in December. Trump was also criticized for his support of the World Liberty Financial crypto platform, in which he is named 'Chief Crypto Advocate' of the company and receives part of the profits. Some senators have expressed concerns that Trump's influence on politics World Liberty, which is 60% in possession of the Trump family. Trump also received criticism for the controversial start of his memo cin, Official Trump (Trump), on January 18 – just two days before returning to the White House.
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