Trump has a new move! Truth Social previewed the launch of "utility Token" to reward platform users' loyalty.

The social media platform Truth Social, founded by former U.S. President Trump, announced on Wednesday (July 10) that it will launch a utility Token as part of its new loyalty rewards program related to the Patriot Package subscription plan.

"In the near future, based on user participation on the platform, subscribers of the Patriot Package will accumulate gems in their Truth Social accounts. These gems will ultimately be linked to utility Tokens on Truth Social and Truth+," mentioned Truth Social in a post.

(Source: Truth Social)

The Patriot Package is currently in the public testing phase, with a monthly fee of $9.99, offering 12 "premium, non-awakened news channels," expanded video on-demand content, a red verification badge on Truth Social, and a Truth+ badge.

Strangely, the standalone free package offers 27 channels - 15 more than the paid version - including a European news channel and a Spanish-language station.

This is not the first time that Truth Social's parent company Trump Media & Technology Group (TMTG) has proposed plans related to cryptocurrency.

In April of this year, the company informed shareholders that it is exploring the development of a utility Token for the Truth digital wallet, initially to be used for paying Truth+ subscription fees, and later for paying for other services within the Truth ecosystem.

In May, the company denied rumors of launching the Truth Social meme coin.

This week, the company submitted a registration statement to the U.S. Securities and Exchange Commission to apply for a new "Truth Social Crypto Blue Chip ETF," which will include assets such as Bitcoin, Ethereum, Solana, XRP, and Cronos.

Truth Social's cryptocurrency ambitions mark the latest development in a broader trend of Trump-related enterprises embracing digital assets.

In recent years, Trump and his wife Melania Trump have promoted various NFT collectibles and meme tokens. In May of this year, Trump hosted the main holders of the TRUMP meme coin at a private dinner and reception, provoking strong opposition from ethical regulatory bodies.

The advocacy group Accountable US calls it "the most blatant corruption scheme to line pockets in the history of the U.S. presidency."

The Trump family is also connected with cryptocurrency companies, including World Liberty Financial and American Bitcoin.

Members of Congress, including Massachusetts Democratic Senator Elizabeth Warren, are calling for stronger laws to prevent the current president and his family from profiting from cryptocurrency businesses. Nevertheless, legislative progress remains slow.

Even some Republicans have expressed concerns. At a Senate Banking Committee hearing on Wednesday, Louisiana Republican Senator John Kennedy questioned why the cryptocurrency industry seems to be crafting its own legislation, pointing out that the proposed market structure bill would greatly weaken regulation.

"To what extent should we allow you to draft (these rules)?... I... have heard some of you say that digital assets represent the next generation of the internet," John said while speaking to a group of cryptocurrency leaders, including Ripple CEO Brad Garlinghouse.

"Well, let's have the contemporary internet correct its own rules, frankly, the result we got looks like someone spilled a urine sample."