Trump Media has announced plans to launch a new digital token, marking the company’s first major foray into the crypto space.
Reportedly, existing shareholders will receive airdrops of the token, effectively rewarding them with a stake in the company’s new digital ecosystem.
Trump Media to Launch New Token, Shareholders to Receive Airdrops with Platform Perks
An official announcement reveals Trump Media and Technology Group Corp’s plans to distribute a new digital token to its shareholders in collaboration with Crypto.com.
The token rollout could advance the Trump empire’s ongoing push to expand its footprint across financial and digital markets.
Trump Media and Technology Group Corp (TMTG) is the operator of Truth Social, Truth+, and FinTech platform Truth.Fi.
Under the plan, each ultimate beneficial owner of DJT shares will be eligible to receive one digital token per whole share. Token holders gain periodic rewards tied to Trump Media products, including Truth Social, Truth+, and Truth Predict.
“Such rewards may include benefits or discounts tied to Trump Media products such as Truth Social, Truth+, and Truth Predict,” read an excerpt in the press release.
The initiative is intended to reward shareholders while promoting engagement across the company’s platforms.
The distribution will leverage Crypto.com’s Cronos blockchain. Notably, Trump Media already has an existing relationship with Crypto.com, having acquired $6.42 billion worth of CRO digital tokens earlier in the year.
They also have a non-binding partnership to launch ETFs featuring Cronos, Bitcoin, and more.
“We look forward to utilizing Crypto.com’s blockchain technology and improving regulatory clarity to implement this first-of-its-kind token distribution, reward Trump Media shareholders, and promote fair and transparent market,” the press release added, citing Trump Media CEO and Chairman Devin Nunes.
The company emphasized that the tokens are not securities, do not represent ownership in Trump Media, and may not be transferable or exchangeable for cash.
Additional details regarding the distribution schedule and token benefits will be shared in the coming year.
Industry watchers say this represents one of the first high-profile integrations of shareholder rewards with digital tokens in the media sector.
Cronos (CRO) Price Performance. Source: BeInCrypto
Despite the news, the CRO price is only up by a modest 0.7% in the last 24 hours, trading for $0.09336 as of this writing
