Trump Media has officially unveiled its long-rumored Truth-branded digital token and digital wallet plans in its latest filing with the U.S.
Securities and Exchange Commission (SEC).
Information contained in the company's second-quarter financial statement indicates that this initiative is now central to Trump Media's cryptocurrency strategy.
The filing stated that the token, described as part of a rewards program to be integrated into the “Truth digital wallet,” will initially be used as payment for Truth+ subscriptions.
The company noted that this token could eventually be used in other products and services within the Truth ecosystem, aiming for a broad range of uses across the platform.
Although the token is not directly referred to as a “cryptocurrency” in the filing, the language used strongly suggests that the project will be built on a blockchain-based infrastructure.
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In July, the company invested $2 billion in Bitcoin and Bitcoin-related securities, making it the world's fifth-largest public Bitcoin investor.
In May, a private financing round with institutional investors raised $2.4 billion, of which $1 billion is currently earmarked as collateral for convertible bonds.
Trump Media, through its fintech arm Truth.Fi, has also filed for a series of crypto exchange-traded funds (ETFs) based on Bitcoin, Ethereum, and the “Crypto Blue Chip” index.
Trump Media CEO Devin Nunes described the company's expansion into crypto assets as a protection mechanism against “debanking” and political discrimination stemming from the traditional financial system. *This is not investment advice.
Continue Reading: Another Donald Trump-Related Altcoin May Be Coming Soon – They Have Filed an Application with the SEC.
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