Dec 31 (Reuters) – Trump Media and Technology Group said on Wednesday it will distribute a new digital token to its shareholders in partnership with Crypto.com.
Shares of the company, which operates social media platform Truth Social, were last up 4.3% in morning trading.
President Donald Trump has vowed to make the United States the crypto capital of the world and has promised looser regulation of the sector under his administration.
Since his return to the White House in January, the climate for crypto businesses has turned more favorable, with legislation passed in the summer to cover parts of the sector and several enforcement cases were abandoned.
Meanwhile, the Trump family has also launched a series of crypto ventures, including a meme coin and World Liberty Financial, a crypto company partly owned by the president.
DJT shareholders will receive one new digital token for each share they hold, the company said, with more details on the launch expected in 2026.
The new token is expected to operate on the Cronos blockchain.
(Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
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