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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.

Trump Media Files for Bitcoin and Ethereum ETF Amid Crowded Crypto Market

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Trump Media & Technology Group, the parent company of Truth Social, has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) that would invest in both bitcoin and ethereum, the two largest cryptocurrencies by market value.

This marks the company’s second crypto ETF filing in under two weeks, following an earlier bid to launch the Truth Social Bitcoin ETF. If approved, the new Truth Social Bitcoin & Ethereum ETF would enter a highly competitive space already led by financial giants like BlackRock, whose iShares Bitcoin ETF manages $72.5 billion in assets.

ETF analysts say new entrants will struggle to compete without a clear edge. “The only way to stand out will be through fees or brand,” said Bryan Armour of Morningstar. Trump Media has not yet disclosed management fees for either ETF, though competitors typically charge around 0.12%.

The proposed bitcoin and ethereum ETF would initially maintain a 3:1 ratio in favor of bitcoin, according to the issuer Yorkville America Digital. This allocation strategy may help attract retail crypto enthusiasts, especially those aligned with the Truth Social platform.

Sui Chung, CEO of CF Benchmarks, said the move may be less about innovation and more about leveraging brand loyalty: “Given Truth Social’s involvement, it may be marketed directly to individual investors—just like how some people buy Apple stock because they love their iPhones.”

If approved, the ETFs could appeal to politically engaged investors and retail traders loyal to former President Donald Trump, further blending political branding with financial products in the digital asset space.

Trump Reports Over $600 Million in Income from Crypto, Golf, and Licensing Ventures

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Donald Trump disclosed more than $600 million in income from cryptocurrency, golf clubs, licensing deals, and other businesses in a financial report released on Friday, offering insight into the expansive portfolio of the billionaire former president.

The report, which appears to cover the 2024 calendar year, highlights Trump’s growing earnings from cryptocurrency ventures alongside revenues from real estate developments, golf resorts, and licensing agreements. Reuters estimates Trump’s total assets at a minimum of $1.6 billion based on the disclosure.

Although Trump has placed his businesses in a trust managed by his children, the income still flows to him, raising concerns about potential conflicts of interest. Some cryptocurrency-related businesses have benefited from policies enacted under Trump’s administration, fueling criticism.

White House press secretary Karoline Leavitt emphasized the administration’s commitment to transparency and compliance with ethics rules in a statement to Reuters.

Key highlights from the disclosure include:

  • The meme cryptocurrency $TRUMP reportedly generated $320 million in fees, though the distribution of those fees remains undisclosed.

  • The Trump family earned over $400 million from World Liberty Financial, a decentralized finance company, with Trump personally reporting $57.35 million from token sales and holding 15.75 billion governance tokens.

  • The family is involved in bitcoin mining operations and digital asset ETFs.

  • Trump Media & Technology Group, owner of Truth Social, represents a significant part of Trump’s reported wealth.

  • Passive investments, including stakes in Blue Owl Capital, Charles Schwab, and Invesco funds, generated at least $12 million in income from assets valued at $211 million.

  • Trump’s golf resorts in Florida—Jupiter, Doral, and West Palm Beach—and the Mar-a-Lago private club earned at least $217.7 million in revenue, with the Miami-area Trump National Doral golf resort alone bringing in $110.4 million.

  • The disclosure also noted international income streams, including $5 million in licensing fees from a Vietnamese development, $10 million in development fees from a project in India, and nearly $16 million in licensing fees from a Dubai project.

  • Additional royalty income includes $1.3 million from the Greenwood Bible, $2.8 million from Trump Watches, and $2.5 million from Trump Sneakers and Fragrances.

  • Trump’s NFTs brought in $1.16 million, while First Lady Melania Trump earned approximately $216,700 from licensing her own NFT collection.

The financial disclosure provides a snapshot of Trump’s diverse and global business interests during his presidency, with significant earnings from emerging sectors like cryptocurrency alongside traditional revenue streams.