Trump Media and Technology Group (TMTG) is set to launch a utility token for its streaming service, Truth+, marking a significant move into the cryptocurrency sector.

The announcement was made in a letter to shareholders, which outlined plans for a digital wallet that would facilitate subscription payments for Truth+ and other services within the Truth ecosystem.

CEO Devin Nunes emphasized the importance of expanding digital offerings and monetization strategies for Truth+ in his communication with shareholders.

In January 2025, TMTG allocated $250 million from its cash reserves into Bitcoin and other digital assets, with plans to enhance its presence in the cryptocurrency market.

The company aims to develop financial products themed around 'America First', including exchange-traded funds (ETFs) and separately managed accounts (SMAs), with custody services from Charles Schwab.

Mixed reactions from the crypto community have emerged, with some suggesting the use of stablecoins instead of creating a separate utility token for subscriptions.

Concerns have been raised regarding potential conflicts of interest related to Trump's involvement in the cryptocurrency sector, particularly given his regulatory influence.

TMTG has a base of approximately 600,000 investors who support its mission of promoting free speech and America-First principles.

Donald Trump is scheduled to host a private dinner for top holders of his Official Trump meme coin, further indicating his ongoing engagement in the cryptocurrency space.

The success of the Truth+ token will depend on TMTG's ability to navigate regulatory and ethical challenges while enhancing user engagement.

Details regarding the launch date and blockchain specifics for the Truth+ token remain unclear, as the company has not provided further comments.

Following the announcement of the token, the price of the TRUMP token dropped significantly, reflecting market reactions to the news.