- Trump Media disclosed new details on its upcoming Truth utility token.
- It posted positive cash flow but still lost $20 million in the quarter.
- The firm now ranks among the five biggest public Bitcoin holders.
Trump Media has formally disclosed plans for a Truth-branded utility token and digital wallet in its latest Securities and Exchange Commission filing, months after first teasing the concept in a shareholder letter.
The filing describes the token as part of a “larger rewards program” integrated into a “Truth digital wallet,” initially allowing users to pay for Truth+ subscriptions.
Over time, the token could be applied to other products and services “in the Truth ecosphere,” hinting at a broader platform-wide utility.
While the company doesn’t explicitly call it a cryptocurrency, the language suggests blockchain-based infrastructure is likely.
The Q2 filing marks the first time the initiative has been included in public financial documents, indicating the project is now being treated as a core component of Trump Media’s crypto strategy.
It comes amid an aggressive and broadening digital asset pivot.
In July, Trump Media deployed $2 billion into Bitcoin and Bitcoin-related securities, making it the fifth-largest public holder of the top cryptocurrency globally.
The firm said it raised $2.4 billion in May via a private placement backed by institutional investors, with $1 billion now sitting in restricted cash as collateral for convertible notes, according to the filing.
The company also filed for several crypto exchange-traded funds under its Truth.Fi fintech division, including funds tied to Bitcoin, Ethereum, and a “Crypto Blue Chip” index.
Trump Media posted $2.3 million in operating cash flow, its first positive quarter, but still recorded a net loss of $20 million, driven by stock-based compensation and lingering legal fees from its 2024 SPAC merger.
CEO Devin Nunes has framed the company’s crypto exposure as a safeguard against what he calls “debanking and other acts of political discrimination” by the traditional financial system.
Crypto market movers
- Bitcoin has gained 0.1% in the past 24 hours and is trading at $113,700.
- Ethereum is down 0.4% in the same period to $3,470.
What we’re reading
- UK lifts ban on crypto-linked notes for retail investors after 5 years — DL News
- Can Pump.Fun be dethroned? — Milk Road
- By Not Staying Chain-Agnostic With Base, Could Coinbase Make a Wrong Bet? — Unchained
- Bitcoin and Ethereum ETFs suffer second-worst day of 2025 in ‘odd end’ to landmark week for crypto — DL News
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
