Donald Trump's Trump Media and Technology Group (TMTG) has announced the release of a new digital token. The cryptocurrency is planned to be distributed among the company's investors in partnership with the Crypto.com exchange. The project will operate on the Cronos blockchain. This is reported by Bloomberg, writes UNN.
Details
According to the official statement, each TMTG shareholder will receive one token for each existing share. Donald Trump, as the largest owner of the company with a 41% stake, will be the main recipient of the new assets.
It is worth noting that the tokens have certain restrictions:
- they do not grant ownership rights to the company's shares (ticker DJT);
- they cannot be transferred to other persons or exchanged for cash;
- owners will only be able to receive additional rewards, discounts, or bonuses related to Trump Media ecosystem products.
Political Context and Business Development
The launch of the coin comes amid a softening regulatory climate in the US after Trump's return to the White House. Trump Media CEO Devin Nunes emphasized: "We look forward to leveraging Crypto.com's blockchain technology and improved regulatory clarity to implement this first-of-its-kind token distribution."
Eric Trump showed off the American Bitcoin mining farm in Texas25.11.25, 10:20 • [views_6046]
This is not the Trump family's first cryptocurrency project – the WLFI token, the USD1 stablecoin, and a number of memecoins have already been launched. In addition to the crypto industry, Trump Media plans to expand its activities in the areas of nuclear fusion, financial products, and sports betting.
The market reacted positively to the announcement: the company's shares rose by 3.3% in pre-market trading on Wednesday.