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BiyaPay Analyst: Trump Media Plans to Release "New Coin," TRUMP Meme Coin Plunges 11%

5 hours ago

April 30th: The "Trump Media & Technology Group" (DJT), which is owned by the former US president Trump, intends to launch a native utility token and a digital wallet as part of a more extensive monetization strategy for the Truth Social and Truth+ streaming platforms. After the announcement, the TRUMP Meme token saw a sharp decline of 11%, dropping by 70% from its all-time high. In a letter to shareholders on Tuesday, the Trump DJT Group stated: "As part of our reward program, we are looking into the introduction of a utility token in the Truth digital wallet. Initially, it will be available for paying Truth subscription fees and later for other products and services within the Truth ecosystem." Furthermore, the project plans to allocate $250 million from its $777 million cash reserves for blockchain integration, including increasing its holdings of Bitcoin and other crypto assets. The company has previously collaborated with institutions such as Crypto.com and Yorkville America Digital and is planning to launch a "Made in America" themed crypto and stock mixed ETF under the financial technology brand Truth.Fi. Although Trump has not officially given up on the TRUMP Meme token, the launch of a platform-native token has triggered panic selling among investors, causing the meme coin's market capitalization to drop from $8.8 billion at its peak to $2.6 billion. Analysts believe that this move indicates a strategic shift in the Trump camp from "Meme hype" to "practical blockchain applications." BiyaPay, as the world's first multi-asset trading wallet, shows unique value by now enabling instant exchange between 30 fiat currencies and 200 digital currencies. Users can directly participate in the US and Hong Kong stock markets through a USDT 1:1 equivalent exchange to USD, with Maker spot/contract trades being fee-free.

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