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Trump Media and Technology Group, the parent company of Truth Social and Truth Plus, plans to launch a new utility token as part of a broader expansion strategy. CEO Devin Nunes shared these updates in a letter marking the company’s first year as a public authority and detailing new features, investments and upcoming crypto integrations.
Utility tokens are introduced within a dedicated Truth digital wallet and are first used to pay for truth and subscriptions. Over time, it can also be used by other services throughout the Trump Media ecosystem, and form part of a larger rewards program.
A strong start, in a year
In its first year as a public company, Nunes highlighted the company’s strong financial position, holding $777 million in cash at low operating expenses. He believes this gives Trump Media a strong growth advantage, especially as it unfolds new premium features from Truth Plus, including access to longer videos, edit buttons, and more conservative news channels and family-friendly content.
Big investment in finance
Meanwhile, under financial services brand Truth.fi, Trump Media is working with Yorkville American Equity and Index Technologies Group to launch a series of ETFs and individually managed accounts with a “America’s first” focus. Up to $250 million has been allocated to the venture.
However, crypto ambitions have raised concerns about potential conflicts of interest. Despite transferring his 59% stake to trust, Trump is linked to several crypto ventures, including the world’s Liberty Financial. There, he is named “Chief Crypto Advocate” and profits from companies owned primarily by the Trump family. His memo coin launch, official Trump (Trump), attracted criticism just before taking office.
Nunes also notified the SEC, citing the hedge fund’s short position of 6 million, and expressed concern about the stock manipulation. He added that the company will actively pursue mergers and acquisitions to find “Crown Jewel” assets that match its long-term vision.
Stock pressure and M&A plans
Despite the announcement, Trump Media stocks (DJTs) fell 3% that day, down 26% per year. Nunes argues that hedge fund operations are partially liable, warning the SEC. He also says Trump media is looking for strategic acquisitions to support long-term growth.
