Truth Social, the social media platform under Trump Media & Technology Group (DJT)—which is largely controlled by Donald Trump—is evaluating the launch of its own cryptocurrency.
“As part of our rewards program, we are exploring the introduction of a utility token with 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 ecosystem,” the company stated in a letter to its shareholders on Tuesday.
The stock has hardly fluctuated; it reported a slight decrease of 0.52% in after-hours trading.
In addition to the cryptocurrency, the company is also considering offering exchange-traded funds (ETFs) that will combine traditional equities with cryptocurrencies.
Over the years, Trump’s team has introduced various cryptocurrency offerings, such as memecoins, NFT collections, and decentralized finance (DeFi) products.
