Trump Media and Technology Group (TMTG), the parent company of former President Donald Trump’s Truth Social platform, has announced the creation of a novel cryptocurrency exclusively for its shareholders. This strategic move represents the Trump family’s expanding footprint in the digital asset landscape, an industry that has already yielded substantial financial returns while simultaneously drawing scrutiny over potential conflicts of interest.
The newly unveiled token will be distributed on a one-to-one basis relative to share ownership. Current CEO Devin Nunes, who also chairs the White House Intelligence Advisory Board, hailed the initiative as a groundbreaking effort to reward investors and champion market transparency. The distribution will be facilitated through a partnership with the Crypto.com exchange, with the token operating on the Cronos blockchain.
This foray into crypto coincides with a notable regulatory shift from the Trump administration. Since returning to the White House, President Trump has championed policies favorable to the cryptocurrency sector. His administration signed the nation’s first major crypto legislation, dropped several enforcement cases against crypto businesses, and advocated for allowing retirement savings to be invested in digital assets. This stands in stark contrast to Trump’s previous characterization of cryptocurrency as a scam.
Despite a supportive regulatory environment, the crypto market has faced headwinds. Bitcoin is on track for an annual loss after retreating from its October peaks. Similarly, TMTG’s stock has plummeted over 60% this year, and a separate ‘TRUMP’ meme-coin launched around the January inauguration has lost more than 90% of its value. The company has indicated that token holders may receive various perks, including discounts on TMTG products, with distribution expected in the near future.