- Trump Media and Technology Group said it will give shareholders one cryptocurrency per share.
- This new cryptocurrency distribution is in collaboration with Crypto.com, and the specific distribution timing will be announced next year.
- Trump Media said that it may offer benefits or discounts linked to main products such as Truth Social to holders of the token as compensation.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
U.S. Nasdaq-listed Trump Media and Technology Group will distribute cryptocurrency to its shareholders.
Trump Media said on the 31st (local time) that it will distribute a new cryptocurrency to shareholders in collaboration with U.S. cryptocurrency exchange Crypto.com. Trump Media is the operator of U.S. President Donald Trump's social media "Truth Social." Trump Media said, "The token distribution will be carried out using Cronos, a high-performance, interoperable blockchain, and Crypto.com's advanced technology."
The distribution target is shareholders who own one or more shares of Trump Media. Trump Media plans to give one new cryptocurrency per share. The specific distribution timing was not disclosed.
Token holders are also expected to receive additional rewards. Trump Media said, "Detailed information about the token distribution will be disclosed next year," and added, "(Rewards may include) benefits or discounts linked to Trump Media's main products such as Truth Social, Truth+ and Truth Predict."
Devin Nunes, CEO of Trump Media, said, "(Cryptocurrency) regulatory clarity is improving, and in that environment we will implement an unprecedented token distribution," adding, "We hope to contribute to creating a fair and transparent market through rewards to shareholders."
