The social media company Truth Social, founded by Donald Trump, continues its cryptocurrency initiatives.
At this point, Truth Social has recently signaled that it will issue a utility token linked to its premium subscription service, the Patriot Package.
According to a report by Decrypt, it announced that it plans to release a token aimed at rewarding users as part of the Truth Social TV broadcast subscription package.
“In the near future, Patriot Package subscribers will accumulate jewels in their Truth Social accounts based on their level of interaction with the platforms. These will eventually be linked to a utility token in both Truth Social and Truth+.”
The company had previously mentioned that it was considering issuing a utility token in April.
This is not the first time Truth Social has announced its plans regarding cryptocurrencies. Indeed, Truth Social is taking significant steps to expand its presence in the cryptocurrency space.
At this point, the company applied for a spot Bitcoin ETF and a Bitcoin and Ethereum combo ETF last month.
The company again applied to the SEC for a “Crypto Blue Chip” ETF consisting of BTC, ETH, Solana (SOL), XRP, and CRO earlier this week.
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