Cryptocurrency

Trump Media Mulls Utility Token, Digital Pockets Launch


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Donald Trump’s Trump Media and Know-how Group is contemplating increasing its crypto ambitions by introducing a utility token and digital pockets.

In an April 29 letter to shareholders, CEO Devin Nunes mentioned the agency is exploring a Reality Social digital pockets the place the token might be used for Reality+ subscriptions and different merchandise throughout the Reality ecosystem. The token would additionally assist a deliberate rewards program throughout the corporate’s companies.

Trump Media’s crypto push additionally consists of the event of “America first”-themed monetary merchandise corresponding to ETFs (exchange-traded funds) and individually managed accounts (SMAs), with custody offered by Charles Schwab.

The corporate mentioned in January that it will make investments as much as $250 million of its money reserves in Bitcoin and different digital property

The shareholders’ letter comes after Trump Media hinted at launching its personal crypto funds providing in November final 12 months, when it filed a trademark software with the US Patent and Trademark Workplace. 

Within the submitting, the corporate described a pc software program designed to perform as a digital pockets, allow digital asset buying and selling, in addition to course of crypto funds on Reality.Fi.

Trump Media Shares Bounce Again

Since going public on March 26 final 12 months, Trump Media has seen its share worth drop. 12 months-to-date, shares within the firm are down over 26%, information from Google Finance exhibits.

Within the final month, nonetheless, the inventory worth has surged greater than 27%.

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Steven Walgenbach
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