President Donald Trump’s truth+ video streaming app is considering releasing a tool token.
Devin Nunes, CEO and President of Trump Media & Technology Group (TMTG), says in a new shareholder that the company examines a symbol and a “truth digital wallet.”
Nunes, a former member of Congress, says that token can be used to pay for truth+ subscription costs and “later applied to other products and services in the truth Ecosphere.”
Trumps controversial Solana (Solar) -bashed Memecoin, TRUMPcruised down after the news. The 48th ranked crypto supply with market cases is traded at $ 12.70 at the time of writing and is down more than 7% over the past 24 hours.
In January, tmtg announced A partnership with Gaant Charles Schwab for financial services to launch the truth.fi, a fintech company with crypto services.
As a way of diversifying the company’s reserves, TMTG’s Board of Directors has approved an investment of $ 250 million to be stored by Charles Schwab, which can go to investment vehicles, stock exchange trained funds (ETF), separately handled accounts (SMA), as well as bitcoin (BTC) and other digital assets.
In the latest shareholder letter, Nunes says the first two truth. Fi products will be slate of custom SMA and ETFs.
“Both products will have an America-first theme, focusing on a multiple set of companies in several industries, with the ETFs that offer both Cryptocurrencies and traditional shares.
To launch our financial products, Trump collaborated with high quality companies that have great synergy with our business and vision. We have joined the Index Technologies Group and Yorkville America Equities to develop the SMAs and with Crypto.com and Yorkville America Digital to develop the ETFs.
Trump Media plans to invest, along with you, in these products through their own cash reserves. “
Trump’s efforts in the crypto world have created significant public criticism: Ethereum (Ethics) founder Vitalik Buterin mentioned Earlier this year, political coins represented “vehicles for unlimited political bribes.”
In a February letter For the US Department of Justice (DOJ) and Office of Government Ethics, officials at the Non -Non -Consumer Consumer Business Organization Public Citizens claimed that Trump’s Memecoin could contravene federal laws governing gifts to government officials.
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