Trump Media and Technology Group, the company behind Truth Social, says it will give a new cryptocurrency token to everyone who owns its stock. Each investor will get one token for every share they hold. The company announced the plan after recent moves into crypto and tech, even though its stock price has dropped more than 60 percent this year. Trump is the largest shareholder and has pushed for looser crypto rules since returning to the White House. Some critics worry that his growing crypto projects could create conflicts of interest.
How the token will work
The token will be issued through Crypto.com and will run on the Cronos blockchain. Trump Media says shareholders will get their tokens soon. The firm also hinted that token holders could receive rewards like product discounts.
Who is running Trump Media
The company is led by Devin Nunes, a former California Representative who now also works as Chair of the Intelligence Advisory Board at the White House. He said the token plan aims to reward investors and encourage fair trading.
Crypto policy and Trump’s role
Trump has backed friendlier rules for crypto trading and platforms. His administration has also dropped several enforcement cases against crypto firms and opened the door for retirement money to flow into digital assets.
Market reaction and risks
Even with a crypto friendly White House, investors have been stepping back from digital coins this year. Bitcoin is on track for an annual loss. Some Trump backed coins have also lost value after early jumps in price.
Trump Media Plans New Crypto Token For Shareholders
