The company behind US President Donald Trump’s Truth Social platform says it plans to issue a new cryptocurrency to its shareholders, marking the Trump family’s latest move into digital assets.
Trump Media and Technology Group said the digital token will be given to investors on a one-for-one basis, meaning shareholders would receive one token for every share they hold. The announcement was made on
Wednesday, and Trump Media’s stock rose after the news.
The token will be distributed through a partnership with Crypto.com, according to the company’s statement, and is expected to run on the Cronos blockchain. Trump, the largest shareholder in Trump Media, has also advocated for looser regulation of the crypto sector.
Trump Media CEO Devin Nunes called the move a “first-of-its-kind token distribution,” saying it aims to reward shareholders and support what he described as “fair and transparent markets.”
Nunes, a former Republican Representative from California, also holds a role at the White House as Chair of the Intelligence Advisory Board, where he advises Trump on intelligence collection.
Trump Media said shareholders should receive the tokens “in the near future.” The firm also suggested the token could come with “various rewards” for holders, including potential discounts on Trump Media products.
Founded in 2021, Trump Media has recently widened its expansion into the crypto space, while also pushing into artificial intelligence and financial services. Despite those efforts, the company’s shares have fallen more than 60% this year.
Since returning to the White House in January, Trump has supported more favorable crypto regulation, including for trading platforms and related parts of the industry. Crypto companies and investors also spent heavily during the 2024 election cycle, backing candidates including Trump.
At the same time, critics have raised concerns about potential conflicts of interest tied to crypto projects connected to Trump and his family. Some of those ventures, including the TRUMP meme-coin and a token linked to World Liberty Financial, have produced substantial profits.
Over the summer, Trump signed what was described as the country’s first major national crypto legislation, a move widely viewed as helping legitimize the industry and further integrate crypto into mainstream finance.
His administration has also dropped several enforcement cases against crypto firms and pushed policies that could make it easier for Americans to invest retirement savings in non-traditional assets such as cryptocurrencies.
Even with a crypto-friendly White House, investor sentiment has cooled this year as some pull back from assets considered volatile. Bitcoin, the world’s largest cryptocurrency, is on track for an annual loss after falling sharply from record highs reached in October.
Some Trump-linked crypto bets have also struggled. The TRUMP coin launched ahead of Trump’s January inauguration and quickly became one of the most valuable cryptocurrencies. Since then, however, it has dropped more than 90% from its peak.
