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

BlockBeats News, April 30: The "Trump Media & Technology Group" (DJT), owned by former U.S. President Trump, plans to launch a native utility token and digital wallet as part of a broader monetization strategy for the Truth Social and Truth+ streaming platforms. Following the announcement, the TRUMP Meme token plummeted by 11%, decreasing 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 exploring the introduction of a utility token in the Truth digital wallet, initially 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 partnered with institutions such as Crypto.com and Yorkville America Digital, planning to launch a "Made in America" themed crypto and stock mixed ETF under the financial technology brand Truth.Fi.

While Trump has not formally abandoned the TRUMP Meme token, the launch of a platform-native token has triggered panic selling among investors, causing the meme coin's market cap to drop from $8.8 billion at its peak to $2.6 billion. Analysts believe this move signals a strategic shift in the Trump camp from "Meme hype" to "practical blockchain applications."

BiyaPay, as the world's first multi-asset trading wallet, demonstrates unique value by now facilitating instant exchange between 30 fiat currencies and 200 digital currencies. Users can participate directly in the U.S. and Hong Kong stock markets through a USDT 1:1 equivalent exchange to USD, with Maker spot/contract trades fee-free.