Trump-linked media venture investigates potential utility token and Truth Digital Wallet application
Goin' Digital: Trump's Media Group Ventures into Crypto and Fintech
Here's a lowdown on what's cookin' at Trump Media & Technology Group (TMTG). They're tossing around some ideas in the cyber realm, and it seems they're aiming to shake things up in the fintech and investment spheres.
Prepare for Takeoff: Truth Token and Digital WalletGear up for TMTG's new kid on the block - a native utility token, ready to soar with a swanky Truth digital wallet. Thewallet's purpose? To serve as a payment method for Truth+ subscriptions, with plans to extended its reach to other services within the platform in the future. The wallet's perks include premium Truth Social features, such as verification badges, post-editing tools, scheduled posts, and extended content limits.
Enter Truth.Fi: TMTG's Fintech DivisionUnder the Truth.Fi banner, TMTG is building two powerhouses: America-First branded Separately Managed Accounts (SMAs) in partnership with Index Technologies Group and Yorkville America Equities, and ETFs melding equities and cryptocurrencies in collaboration with Crypto.com and Yorkville America Digital. These projects aim to uphold a "Made in America" focus.
Investing with Trump: The Game PlanTMTG is ready to sink up to $250 million from its stash of $777 million cash reserves into these ventures. The cash will be deployed towards investments in Bitcoin, crypto-related securities, and blockchain infrastructure. Custody services are expected to be provided through Charles Schwab.
Global Expansion: Truth+ Heads North and SouthTMTG's ambitions aren't limited to the U.S. They're setting their sights on Canada and Mexico, aiming to broaden the reach of Truth+. They're also planning legal action against alleged naked short selling of DJT stock and a reincorporation in Florida to leverage pro-business policies.
Hold onto your hats folks, it looks like TMTG's planning a rollercoaster ride! Stay tuned for more updates.
Extra Facts- Truth+ might adopt a utility token for more than just subscriptions. The token's potential expansion could support various platform services.- Trump Media's investment in digital assets has been approved, totaling $250 Million.- The Truth.Fi division's America-First themed ETFs and SMAs will blend traditional equities and crypto assets.- Truth.Fi's ETFs and SMAs are being developed with multiple firms: Index Technologies Group and Yorkville America Equities (SMAs), and Crypto.com with Yorkville America Digital (ETFs).
- The new utility token, known as Truth Token, will not only serve as a payment method for Truth+ subscriptions but may also be expanded to support various other services within the platform.
- In addition to investing $250 million from their cash reserves into Bitcoin, crypto-related securities, and blockchain infrastructure, Trump Media & Technology Group (TMTG) is also partnering with Crypto.com and Yorkville America Digital to create ETFs that blend equities and cryptocurrencies.
- Under the Truth.Fi banner, TMTG is developing two significant projects: America-First branded Separately Managed Accounts (SMAs) in partnership with Index Technologies Group and Yorkville America Equities, and ETFs melding equities and cryptocurrencies in collaboration with Crypto.com and Yorkville America Digital.
- Ambitious expansion plans include the rollout of Truth+ in Canada and Mexico, pursuit of legal action against alleged naked short selling of DJT stock, and a potential reincorporation in Florida to leverage pro-business policies, all aimed at broadening TMTG's reach in the fintech and media landscape.
