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Trump Media unveils plan to distribute new cryptocurrency to shareholders

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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.

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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.

Brazil Central Bank Tightens Cryptocurrency Rules to Curb Fraud and Illicit Payments

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Brazil’s central bank has issued long-awaited regulations for virtual assets and cryptocurrencies, introducing stricter controls aimed at preventing money laundering, fraud, and terrorism financing.

The new framework, which takes effect in February 2026, extends traditional financial-sector safeguards to virtual-asset service providers (VASPs), including brokers, distributors, and exchanges operating in the country.

“New rules will reduce the scope for scams, fraud, and the use of virtual asset markets for money laundering,” said Gilneu Vivan, the bank’s director of regulation, during a press conference in Brasília.

Brazil, Latin America’s largest economy, approved its first legal framework for cryptocurrencies in 2022, but the rollout had been delayed pending regulatory guidance from the central bank. Authorities conducted four public consultations before finalizing the new rules.

Under the regulations, all virtual-asset transactions pegged to fiat currencies — such as the U.S. dollar or the Brazilian real — will be classified as foreign exchange operations. This also applies to international payments or transfers using cryptocurrencies, including those settled via cards or electronic platforms.

Central bank governor Gabriel Galipolo has voiced concerns over the rapid growth of stablecoins, which he said are increasingly being used as informal payment tools, often to bypass tax and oversight systems.

The new framework also mandates stronger governance, transparency, and internal control standards, as well as customer protection and compliance obligations for all crypto-related firms.

Analysts view the move as a major step in Brazil’s effort to bring digital asset markets under tighter regulatory supervision, as crypto adoption continues to expand across Latin America.

eToro Beats Profit Estimates as Retail Investors Drive Market Momentum

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eToro, the stock and cryptocurrency trading platform, reported better-than-expected third-quarter profit on Monday, driven by a surge in retail investor activity and renewed optimism across global markets. The company’s shares rose 7% in afternoon trading following the announcement.

The ongoing equities rally—fueled by steady corporate earnings, cooling inflation expectations, and enthusiasm around the AI-driven tech boom—has prompted investors to reenter riskier assets. Gold has also seen record demand, becoming one of the most sought-after commodities this quarter.

“We have seen the gold craze hitting our customers in October, with gold reaching an all-time high,” said Yoni Assia, eToro’s CEO, in an interview with Reuters. “We also saw some rebalancing in portfolios across U.S. and European equities, and some trimming of tech holdings.”

eToro’s net contribution—which accounts for revenue after deducting crypto costs and margin interest—rose 28% year-on-year to $215 million, while adjusted profit came in at $0.60 per share, beating analysts’ estimates of $0.56 per share (LSEG data).

The company also announced a $150 million share repurchase program, signaling confidence in its growth trajectory.

eToro’s assets under administration jumped 76% year-on-year to $20.8 billion, underscoring strong retail participation supported by accessible trading apps and continuous market volatility.

Looking ahead, eToro plans to expand through acquisitions and enter prediction markets by late 2026. “We’re hungry and we have a large checkbook,” Assia said. “We’ll find the right targets to add value to our customers.”

The firm continues to face fierce competition from rivals such as Robinhood, Charles Schwab, and Morgan Stanley’s E*Trade, but Assia remains confident: “We invented social trading. Copying is the ultimate form of flattery.”