In brief
- Trump Media & Technology Group announced plans to potentially launch a utility token and digital wallet tied to its Truth Social social media platform and related services.
- The token would initially be used for Truth+ subscriptions and later for other products in the "Truth ecosphere."
- President Trump's official Solana meme coin fell in price following the announcement.
Truth Social, the social media network owned by President Donald Trump's Trump Media & Technology Group, said in a Tuesday letter to shareholders that it is considering launching a crypto token and wallet around its Truth+ streaming video service.
"As part of a rewards program, we're exploring the introduction of a utility token within 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 letter from Trump Media CEO and Chairman Devin Nunes reads.
Other products in the company’s “Truth ecosphere” include Truth Social, the preferred social media platform of the president that was built with the intention to “give the American people their voice back,” and Truth.Fi, the firm’s latest fintech brand, which already maintains a crypto connection.

Donald Trump and Bitcoin: From 'Not a Fan' to Crypto President—With His Own Meme Coin
Bitcoin-friendly Donald Trump won the election in November, and was inaugurated in January as the 47th President of the United States of America. But ahead of being formally sworn in, the commander in chief dropped a meme coin. Yes, you read that right. Running on the Solana network, the TRUMP token at one point had a market cap of $14 billion. It’s since plunged to $2.9 billion but the move signaled the new President’s growing enthusiasm for the digital asset space after campaigning to help Bit...
Launched in January, Truth.Fi aims to offer investors access to “America-First” themed financial products by the end of this year, including the launch of customized exchange-traded funds (ETFs) that will contain a mix of cryptocurrencies and traditional equities.
According to the shareholder letter, Trump Media intends to invest alongside its shareholders in these financial products. The firm revealed in January that it would invest up to $250 million of its cash reserves into Bitcoin and similar crypto assets or crypto-related securities.
If launched, a Trump Media & Technology Group token would join a list of Trump-related tokens already in existence. In January, the President released his official meme coin—TRUMP—on the Solana blockchain.
The token has fallen 3% in the hour after the Truth Social shareholder letter was published and 11% in the last day, continuing its descent from an all-time high of more than $73 in January. TRUMP surged last week, however, when the president’s project revealed plans to reward top token holders with an exclusive dinner with Trump.
First Lady Melania Trump also has an official meme coin on Solana. That too may have been affected by rumblings of another Trump-adjacent token, dropping 4.2% in the last hour and 9.5% in the last 24 hours to $0.40—nearly 97% off its January all-time high of $13.05.

Trump Meme Coin Goes Parabolic as President Touts Dinner for Top Holders
President Trump's official Solana meme coin, TRUMP, skyrocketed in value Wednesday after the project offered an exclusive dinner as a reward for top token holders. TRUMP is up nearly 66% on the day, according to data from CoinGecko, rising from $9.30 to the current mark of $14.72 in less than an hour. It's the highest price seen for Trump's meme coin since early March. News of the announcement created a stir among crypto traders, pushing the token’s trading volume to more than $295 million in th...
Though the crypto tokens associated with the Trump name have dropped, shares of Trump Media Group showed no change in after-hours data from Yahoo Finance. At market close on Tuesday shares had fallen 3.29% to $24.98, a decline of more than 26% year-to-date.
The company will hold its annual meeting on Wednesday.
Editor's note: This story was updated after publication with additional details.
Edited by Andrew Hayward