Truth Social, the social media network owned by President Donald Trump's Trump Media & Technology Group, said in a Tuesday letter to shareholders that it is considering launching a crypto token and wallet around its Truth+ streaming video service.

"As part of a rewards program, we're exploring the introduction of a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere," the letter from Trump Media CEO and Chairman Devin Nunes reads.

Editor's note: This story is breaking and will be updated with additional details.

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