Trump Media Set to Issue Non-Transferable Crypto Tokens, Cutoff Date February 2
Trump Media & Technology Group Corp. (DJT) has formally introduced the date for its extremely anticipated distribution of a brand new digital token to its shareholders, as a part of its partnership with cryptocurrency alternate Crypto.com. The document date for this digital token initiative can be February 2, 2026.
Trump Media’s New Crypto Initiative
According to the announcement, eligible shareholders will embrace final useful homeowners and registered holders of a minimum of one entire share of DJT inventory as of the document date. In order to guarantee a easy distribution course of, Trump Media will collect info from dealer contributors about eligible holders.
After the document date, Trump Media plans to collaborate with Crypto.com to mint the digital tokens, which can be displayed on the blockchain and held in custody till distribution.
In addition to the digital tokens, Trump Media has indicated that varied rewards can be made accessible to record-date shareholders all year long. These rewards could embrace advantages or reductions related to Trump Media’s choices, equivalent to Truth Social, Truth+, and Truth Predict.
CRO Token Plummets
The partnership between Crypto.com and Trump Media dates again to August final yr, when the Trump-linked firm announced a $6.4 billion funding within the crypto alternate’s native token, CRO, as a part of a strategic reserve.
Devin Nunes, Trump Media’s CEO and Chairman, expressed his enthusiasm in regards to the newest transfer and the partnership with Crypto.com, stating:
We look ahead to leveraging Crypto.com’s blockchain expertise in keeping with Securities and Exchange Commission steerage to profit our shareholders and promote transparency, together with by acquiring a transparent image of bona fide useful possession as of the document date.
Despite the most recent announcement, Crypto.com’s native token failed to capitalize on the information, dropping to $0.089 on Tuesday amid the broader crypto market’s retracement. It has recorded an 11% drop up to now week alone.
Featured picture from OpenArt, chart from TradingView.com