Trump Media unveils plan to distribute new cryptocurrency to shareholders
Trump Media and Technology Group said on Wednesday it will distribute a new digital token to its shareholders, expanding its push into digital assets as the policy environment for cryptocurrencies grows more supportive in Washington.
Shares of the company, which is linked to U.S. President Donald Trump and operates the social media platform Truth Social, were up about 5% in early trading following the announcement.
Under the plan, shareholders will receive one digital token for each share they hold, the company said. Additional details about the launch are expected in 2026. Trump Media said the token is expected to operate on the Cronos blockchain.
Cryptocurrencies have become an increasingly visible part of the Trump family’s business activities, drawing criticism from opponents who cite potential conflicts of interest. Trump has pledged to make the United States the “crypto capital of the planet,” while his return to the White House in January has coincided with a more favorable climate for the sector. Legislation covering parts of the crypto industry was passed over the summer, and several enforcement actions were dropped.
During the campaign, Trump courted industry support by branding himself a “crypto president.” His family’s ventures, including World Liberty Financial, have also helped push digital assets further into the mainstream. Just days before his inauguration, Trump launched a meme coin known as $TRUMP, which briefly surged to a market value of more than $14.5 billion before sharply declining.
The White House has dismissed allegations of conflicts of interest, saying Trump’s extensive real estate, media and other business holdings are placed in a trust managed by his children.
The token announcement comes during a broader downturn in the crypto market. Bitcoin is down about 6% so far this year and is on track for its first annual decline since 2022, reflecting a wider retreat from riskier assets as investors reduce exposure to volatility.
