Trump Media, Donald Trump-Infield is planning to launch a utility token and digital wallet behind the media platform Truth Social.
Summary
- Trump Media is planning to launch a token and digital wall tied to its social media platform.
- The company damaged millions of people for the second quarter of the year.
- In recent months, Trump Media has witnessed double at its crypto stake.
According to a rental filing of a fare, the token will be part of a comprehensive award system associated with the company’s streaming service. The users will be able to use to pay for membership in their initial stages, with time to expand their efforts with the true ecosystem over time.
The rollout will be considered by a digital wall, which is also in development. Trump Media first sent the idea back in July when he announced
At that time, the company stated that the tokens would be bound by the “gems” earned by the customers and the contributor of users would be sought to design ideas. While there is still no official launch date, the project is now gaining momentum.
Utility token update came when Trump Media revealed its latest finance, recording a net loss of $ 20 million in the second quarter year. Non-males were in intelligence in non-mamle $ 20.5 million due to losses, stock-based perfection, depreciation and legal fees.
Despite the disadvantage, the company logged into its first positive operating wish flow of $ 2.3 million, the most fuel by the recently adopted crypto strategy.
Crypto bet of trump media
Last month, the Trump-Linked Company raised $ 2.4 billion through a private offering by about 50 institutional investors. It has been used to gain about $ 2 billion of bitcoin (BTC) and other related assets.
Purification is now about two-thirds of the $ 3 billion of Trump media, which is $ 3 billion in liquid assets tied to digital assets, which is one of the top ten public holders of bitcoin. Trump Media CEO Dewin Nuns said that the purpose of bitcoin strategy is to ensure “financial freedom” and to protect the company from potental risk in traditional finance.
Meanwhile, Trump Media is also eyeing ETF space. The company filed an application for an exchange-trade fund (ETF) in June that would jointly track bitcoin and atherium, currently subject to review by second and exchange comment (SEC).
