Truth Social May Launch Utility Token for Loyal Users
As part of its new loyalty rewards program linked to its Patriot Package membership plan, Truth Social, the social networking platform that U.S. President Donald Trump launched, has hinted that it could introduce a utility token.
In the near future, based on their level of engagement with the platforms, Patriot Package subscribers will accumulate gems on their Truth Social accounts. These will eventually be tied to a utility token on both Truth Social and Truth+
Truth Social
For $9.99 a month, the Patriot Package—which is presently in public beta—provides access to 12 premium, non-woke news channels as well as more video-on-demand programming. In addition, it also offers the Truth+ badge and red verification mark on Truth Social. However, Euronews and a Spanish-language station are among the 27 channels available on a separate free tier, which is oddly 15 more than the paying version.
Truth Social Parent Confirms Crypto Ambitions With Token and SEC ETF Filing
Trump Media & Technology Group, the parent firm of Truth Social, has previously hinted at aspirations to use cryptocurrency. It informed shareholders in April that it was investigating a utility token for a digital wallet called Truth. Subscriptions to Truth+ and other services within the Truth ecosystem could be paid for with the token at first. It refuted reports in May that it would introduce a Truth Social meme coin. Additionally, it submitted a registration statement for a new Truth Social Crypto Blue Chip ETF, which would incorporate assets including Bitcoin, Ethereum, Solana, XRP, and Cronos, to the Securities and Exchange Commission this week.
Trump Family’s Deepening Crypto Connections Raise Ethical Concerns
Truth Social’s cryptocurrency aspirations are the most recent in a larger trend of Trump-affiliated businesses utilizing digital assets. In recent years, Trump and his spouse, Melania, have promoted a number of meme tokens and NFT collections. Ethics watchdogs reacted negatively when Trump invited leading TRUMP token holders to a private dinner and event in May. It was dubbed the most blatantly corrupt self-enrichment plan in the history of the U.S. presidency by advocacy group Accountable.US.
In addition, the Trump family has ties to cryptocurrency ventures such as American Bitcoin and World Liberty Financial. Stronger legislation has been demanded by lawmakers, including Sen. Elizabeth Warren (D-MA), to stop the current president and their families from making money off of cryptocurrency endeavors. Legislative progress, however, has been sluggish.
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