"We’re distributing coins to shareholders"… Trump Media to conduct a large-scale airdrop on the 2nd of next month

Trump Media and Technology Group, a Nasdaq-listed U.S. company, will distribute its own cryptocurrency to shareholders in early next month.

On the 20th (local time), Trump Media said it had finalized the shareholder airdrop date for the 2nd of next month. Trump Media is the operator of U.S. President Donald Trump’s social media platform, Truth Social. Previously, on the 1st of this month, Trump Media announced plans to distribute a self-issued cryptocurrency to its shareholders.

Eligible recipients are shareholders holding at least one share of Trump Media stock. The company is reportedly set to distribute one new token per share. A Trump Media official said, "We will issue the token in cooperation with Crypto.com," adding, "Details on the token allocation and distribution plan for eligible shareholders will be disclosed later."

Additional rewards were also signaled. Trump Media said, "We will regularly provide a variety of rewards to shareholders," noting they could include benefits or discounts related to Trump Media products such as Truth Social.

The airdrop is also said to comply with regulators’ guidelines. Shannon Devine, a Trump Media spokesperson, told CoinDesk, "We understand and are complying with the U.S. Securities and Exchange Commission (SEC) guidance on this matter (the airdrop)."

Devin Nunes, CEO of Trump Media, said, "In line with SEC guidance, we will use Crypto.com’s blockchain technology to deliver benefits to shareholders and enhance transparency."