Trump Media Technology Group "DJT" has sparked heated discussions in the crypto circle today. The reason is that on the day before the annual shareholder meeting on April 30, 2025, the CEO of Trump Media Company, Devin Nunes, sent a letter to shareholders, mentioning the next phase of goals for its social media platform Truth Social, streaming platform Truth+, and fintech brand Truth.Fi, which are strongly related to crypto.
Almost on the same day at Token2049 in Dubai, Trump’s second son Eric Trump revealed that the Trump Organization announced a partnership with luxury real estate developer Dar Global to invest $1 billion in Dubai to create Trump-branded hotels and residences. The two parties have previously collaborated multiple times, including Trump-branded golf villas in Muscat, Oman, Trump Tower in Jeddah, Saudi Arabia, and Trump Tower in Dubai, but this collaboration marks the first time they will accept cryptocurrency payments.
From NFTs to Memecoins, from DeFi to RWA, from social to stablecoins, and from mining companies to blockchain games, the Trump family seems to want to participate in all areas of Crypto.
Trump's TruthFi Crypto Plan
Trump has been very busy lately.
He is switching between his identities as a former U.S. president, cryptocurrency entrepreneur, and media company owner. He was preparing limited edition Trump Tourbillon watches for the top four holders of "Trump Coin" attending the TRUMP dinner, and then he took the stage at Macomb Community College in Warren, Michigan, to deliver a speech on his first 100 days in office.
In the shareholder letter released on the same day as the "100 Days Speech," Trump once again connected with cryptocurrency. The letter mentioned that Trump Media Technology Group is planning to "tokenize" its streaming platform Truth+. Additionally, Truth plans to introduce a "digital wallet" and a utility token, initially to be used for paying Truth+ subscription fees, and later to be applied to other products and services within the Truth ecosystem.
Subsequently, they launched another new product, Truth.Fi, which encompasses financial services and fintech. As early as November 2024, Trump Media Technology Group submitted a trademark application for Truth.Fi, which mentioned its business scope as "downloadable computer software for use as a digital wallet."
Truth.Fi plans to launch its first two products this year, one being a customized separately managed account "SMAs" developed in collaboration with Index Technologies Group and Yorkville America Equities, and the other being a customized exchange-traded fund "ETFs" in partnership with Crypto.com and Yorkville America Digital. The ETFs will cover both cryptocurrency and traditional stock markets.
The letter further mentioned that the overall strategy of Trump Media Group includes investing up to $250 million of the company's cash reserves in Bitcoin and similar cryptocurrencies, with these assets to be custodied by Charles Schwab, while Trump, the billionaire president, holds over 50% of Trump Media.
$DJT "Desensitized"
At the end of the open letter, Devin Nunes condemned the market's "naked short selling" behavior, noting that since DJT's stock debuted on NASDAQ, he has observed unusual trading activity. DJT has appeared on the NASDAQ Reg SHO threshold list for more than two consecutive months, indicating a high likelihood of "naked short selling" or other manipulation signs. However, aside from "naked short selling," DJT seems to face larger issues.
Note: Naked short selling is a stock trading behavior where the seller does not actually hold or borrow the stock when selling it but sells a short position directly, promising to deliver the stock in the future. Unlike regular short selling, where the stock is borrowed before selling, naked short selling does not ensure stock delivery at the time of the transaction.
This "grassroots company" was founded by Trump in January 2021 after he was stripped of his voice by major social media platforms, in collaboration with California lawmaker Devin Nunes and 600,000 supporters. Since its listing on March 26, 2024, it has been referred to as a "Meme" stock, with its price largely influenced by Trump's popularity. The 2024 annual financial report disclosed a net loss of $401 million for the year, due to its imperfect products and strong competitors, with months of losses and slow user growth causing its stock price to drop to a quarter.
As Trump's re-election reignites market enthusiasm, unfortunately, market sentiment has not changed the fundamentals. Therefore, Trump Media Technology Group has placed its hopes on tokenizing the group, hoping this concept can attract more capital inflow.
However, after the release of this letter to shareholders, the market does not seem to have reacted significantly, whether regarding the cryptocurrency integration of Truth+ or the grand vision of TruthFi bridging crypto and traditional finance. It seems that Trump Media Technology Group has yet to find that "gem on the crown."
Mindless "Scripted Play," Trump's Crypto Empire Lacks Innovation
Trump's connection to the cryptocurrency world is rapidly deepening, with continuous developments and almost no signs of slowing down. This "crypto president" is speeding down this path. It seems that the vehicle this crypto president is riding is still the one that conquered the "real estate" industry decades ago.
NFTs & GAMEFI
In 2024, Trump launched the first batch of about 50,000 NFTs, priced at $99 each, which sold out in less than a day. Similar to Trump Coin a year later, purchasing a "Trump" NFT allowed participation in his hosted dinner events. Many people purchased Trump trading card NFTs for over $10,000, and he seemed to discover a business opportunity within this, subsequently releasing multiple sets of NFTs. This system was again applied to his MemeCoin a few months later.
According to Fortune, multiple sources revealed that Trump is collaborating with his business friend, Bill Zanker, who helped Trump launch the NFT project, to develop a crypto-based real estate-themed game, expected to launch at the end of April this year, but no official information has been released so far.
DeFi & Stablecoins
World Liberty Financial was established in August 2024, at which time members of the Trump family became its supporters and ambassadors, with Trump becoming its "chief cryptocurrency advocate," making it hard not to link the two. In October 2024, WLFI launched the non-transferable governance token $WLFI, with the Trump family holding 2.25 billion WLFI tokens and entitled to 75% of the net protocol revenue, aiming to raise $300 million.
Initial sales only reached $12 million until Trump was elected president, after which a wave of FOMO in the market led to a rapid sellout. Sun Yuchen, the founder of TRON, went even further, investing $30 million to become its largest external investor. Subsequently, WLFI announced plans to invest in multiple tokens, and to date, the funds in its address have shrunk from $400 million to $100 million.
In March 2025, WLFI announced a partnership with Binance to launch a dollar-pegged stablecoin USD1, initially to be issued on the Binance Smart Chain and Ethereum blockchain, managed centrally by World Liberty Financial, with powers to "freeze accounts," "blacklist transactions," and "adjust policies." Such extensive powers starkly contrast with the cryptocurrency community's perception of the "decentralized" concept of stablecoins. However, Eric Trump's recent public statements reveal their intent: "Everything that can be done on the blockchain is more efficient than the current financial institutions' operations; SWIFT is a disaster." After years of restrictions from the traditional financial system, he seeks to find his own rules, focusing on the payment system.
Memes
On January 17, 2025, Trump officially launched a Memecoin named after himself—TRUMP, with an initial issuance of 1 billion tokens, of which 200 million were publicly sold, and 800 million were held by Trump's companies "CIC Digital LLC and Fight Fight Fight LLC." The token quickly sparked global discussions, with its market cap soaring to $7 billion. Even with such a high market cap, the market's enthusiasm continued to grow, with many believing this was a significant boon for Crypto, leading to ongoing purchases. It wasn't until the third day after TRUMP's issuance that First Lady MELANIA also launched her own token named MELANIA, that the market realized the issue, and thereafter both tokens began to decline.
Until the recent token unlock day, a large number of tokens held by speculators needed to be unlocked. The Trump team employed the NFT strategy from months ago, announcing that the first 220 holders would have the opportunity to dine privately with Trump, creating FOMO in the community, and the token price subsequently surged. However, the previous dinner only required $10,000, while this time it demanded $300,000. Blockchain analysis firm Chainalysis pointed out that this memecoin has generated hundreds of millions of dollars in crypto revenue for entities associated with Trump.
Bitcoin Mining
At the end of last month, Bitcoin mining public company Hut 8 released an official press release on March 31, announcing the establishment of American Bitcoin Corp. in collaboration with members of the Trump family, with Eric Trump serving as Chief Strategy Officer. Hut 8 holds 80% of the new company, while the remaining 20% is held by investment entity American Data Centers, which includes Trump’s brothers. The company plans to list on NASDAQ under the ticker "USA."
From the tokenization of social platforms to building a real estate empire that accepts crypto payments, from stablecoins, Memecoins, DeFi, NFTs to Bitcoin mining, the Trump family is embedding cryptocurrency into every corner of its business and political landscape in its own way. The crypto industry has never been as deeply intertwined with a U.S. president and his family as it is today.
However, even if these projects lack novelty, Trump continues to sweep through the crypto market using his personal influence and emotional appeal with an Old School corporate merger model. Whether you are a Builder, Trader, or project party, it is almost impossible to ignore the momentum the Trump family is generating in the crypto world. This great leap forward by the Trump family is not just a performance; it may also signal that the narrative center of the next cycle is no longer solely defined by developers.
Source: https://finance.yahoo.com/news/trump-family-going-crypto-projects-140000972.html
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