Trump Media Plans Crypto Utility Token for Truth+

Trump Media & Technology Group, controlled by U.S. President Donald Trump, is considering launching a utility token for its Truth+ video platform. The initiative was disclosed Tuesday in a letter to shareholders detailing plans for a crypto wallet and token-based payments.

The company said it is “exploring the introduction of a utility token within a Truth digital wallet” to pay for subscriptions and “later be applied to other products and services in the Truth ecosphere.” This token would be part of a broader rewards system that links with Truth Social and the fintech arm TruthFi.

The initiative follows a string of crypto-linked initiatives from Trump-affiliated entities, including a $250 million investment pledge into digital assets and an ETF deal with Crypto.com. Trump is also listed as “Chief Crypto Advocate” for World Liberty Financial, a DeFi firm with major family ownership stakes.

Ethics watchdogs and political opponents have raised concerns about conflicts of interest, especially after Trump’s TRUMP meme coin rewarded top holders with dinner invites and surged to a $2.6 billion market cap. Trump Media filed a trademark for its crypto wallet software last year and formally launched the TruthFi brand shortly after he returned to office in January.

Coinbase Asks Court to Curb IRS Crypto Access

Coinbase filed an amicus brief urging the U.S. Supreme Court to reconsider the IRS’s use of “John Doe summonses” to collect crypto transaction data from crypto platforms. The brief was submitted in Harper v. O'Donnell, a case that challenges the constitutionality of warrantless third-party data collection under the Fourth Amendment.

Coinbase argues the IRS’s actions create a “financial ankle monitor” effect on users by retroactively reconstructing blockchain activity. The crypto exchange says the third-party doctrine, allowing reduced privacy for data shared with service providers, is outdated in the digital age.

The brief references Carpenter v. United States to support limiting government access to granular transaction histories without court oversight. It also notes that pseudonymous blockchain records, while transparent, can be easily de-anonymized, making crypto users especially vulnerable to privacy violations.

FIFA Collect NFTs to Migrate from Algorand to Own Blockchain

FIFA Collect announced that it will migrate from Algorand to a proprietary EVM-compatible chain called the FIFA Blockchain, beginning no sooner than May 20. The transition will end support for Algorand-native wallets like Pera and Defly and require users to use EVM wallets such as MetaMask or Rabby. FIFA said the upgrade will improve platform scalability, feature development, and wallet compatibility.

Originally launched on Algorand in 2022, FIFA Collect briefly minted assets on Polygon in late 2023 but previously denied leaving Algorand. The organization now confirms a full migration, emphasizing improved user experience over prior network partnerships. Users must re-import any previously exported NFTs before the deadline to ensure a smooth transfer.

Lost Bitcoin in a UK Landfill Story Gets TV Deal With Lebul

Media company Lebul reported it obtained exclusive rights to tell the story of James Howells, who lost access to over $800 million in Bitcoin accidentally dumped in a Welsh landfill. The production will span a docuseries, podcast, and social-first campaign under the title The Buried Bitcoin. Howells posted on X that the series will explore the legal, environmental, and personal challenges of his 12-year recovery mission.

Howells originally mined 7,500 BTC in 2009 but claims his former partner discarded the hard drive in 2013. Courts rejected his legal bid to access the landfill, though he still hopes to negotiate with site owners. The media deal arrives amid renewed interest in real-world crypto stories and includes outreach to global sponsors and streamers.

Data of the Day

Blockchain security firm Immunefi discovered that crypto hackers stole $92 million from DeFi platforms in April, marking a 124% jump from March’s $41 million in losses. The month’s largest theft hit UPCX for over $70 million, while a second major exploit targeted KiloEx for $7.5 million. Centralized exchanges reported zero breaches during the same period.

All 15 April attacks targeted decentralized protocols, highlighting persistent vulnerabilities in smart contract infrastructure. Immunefi emphasized the need for zero-trust security models, regular audits, and bug bounties to prevent catastrophic losses. As of April’s close, crypto losses in 2025 have already topped $1.7 billion, exceeding the $1.49 billion lost throughout 2024.

More Breaking News

• Trump's $1B Dubai skyscraper will accept crypto payments for luxury residences, deepening the family's global expansion into digital assets.
• Ripple offered $4-$5 billion to acquire stablecoin issuer Circle, but the deal was reportedly rejected for undervaluing the USDC giant.
• A U.S. senior citizen was swindled out of $330M in BTC using social engineering, with the stolen crypto laundered across 20+ exchanges.
• Anthony Scaramucci predicts Elon Musk will integrate cryptocurrency into his planned X “super app,” though details on the form remain unclear.
• Changpeng Zhao (CZ) criticized European countries for lagging in crypto adoption, naming Montenegro as the continent’s rare exception.
• Sony’s Soneium blockchain is partnering with Plume Network to offer tokenized U.S. Treasuries and private credit yields to its users.
• The SEC has closed its 15-month probe into PayPal’s PYUSD stablecoin without enforcement, as stablecoin legislation gains traction in Congress.

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