Trump Media to Launch New Token With Special Benefits
Trump Media has introduced plans to launch a brand new digital token, marking the corporate’s first main foray into the crypto area.
Reportedly, current shareholders will obtain airdrops of the token, successfully rewarding them with a stake within the firm’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 brand new digital token to its shareholders in collaboration with Crypto.com.
The token rollout may advance the Trump empire’s ongoing push to expand its footprint throughout monetary 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, every final helpful proprietor of DJT shares shall be eligible to obtain one digital token per complete share. Token holders acquire periodic rewards tied to Trump Media merchandise, together with Truth Social, Truth+, and Truth Predict.
“Such rewards might embody advantages or reductions tied to Trump Media merchandise comparable to Truth Social, Truth+, and Truth Predict,” read an excerpt within the press launch.
The initiative is meant to reward shareholders whereas selling engagement throughout the corporate’s platforms.
The distribution will leverage Crypto.com’s Cronos blockchain. Notably, Trump Media already has an current relationship with Crypto.com, having acquired $6.42 billion worth of CRO digital tokens earlier within the yr.
They even have a non-binding partnership to launch ETFs that includes Cronos, Bitcoin, and extra.
“We look ahead to using Crypto.com’s blockchain know-how and enhancing regulatory readability to implement this first-of-its-kind token distribution, reward Trump Media shareholders, and promote honest and clear market,” the press launch added, citing Trump Media CEO and Chairman Devin Nunes.
The firm emphasised that the tokens will not be securities, don’t symbolize possession in Trump Media, and might not be transferable or exchangeable for money.
Additional particulars concerning the distribution schedule and token advantages shall be shared within the coming yr.
Industry watchers say this represents one of many first high-profile integrations of shareholder rewards with digital tokens within the media sector.
Following this information, TrumpCoin (DJT) worth rose by nearly 16% and was buying and selling for $0.00008458 as of this writing.
Meanwhile, the CRO worth is simply up by a modest 0.7% within the final 24 hours, buying and selling for $0.09336 as of this writing.
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