Trump Media and Technology Group has up to date its Truth Social platform to attach its digital rewards program with cryptocurrency.
The firm introduced on Tuesday that Truth Social customers subscribed to its Patriot Package, a paid model of its Truth+ streaming platform, will achieve entry to premium options just like the “Truth gems,” as a part of its upgraded rewards program.
The gems could be earned by actions throughout Trump Media’s platforms and transformed into Cronos (CRO), the native token of Crypto.com, utilizing the change’s pockets infrastructure.
Cointelegraph reached out to Crypto.com for extra data, however didn’t obtain a response by publication.
Trump Media takes a distinct strategy to Truth Social rewards
The transfer to combine CRO indicators a pivot from the corporate’s earlier remarks about exploring the launch of its personal utility token.
In April, Trump Media mentioned it was exploring the launch of a proprietary token and digital pockets to help its Truth+ streaming platform. In an April 29 letter to shareholders, Trump Media CEO Devin Nunes mentioned the corporate is exploring the introduction of a utility token inside a Truth digital pockets.
Nunes mentioned the token can initially be used to pay for subscription prices and be utilized to different merchandise throughout the ecosystem. He added that the token may also be a part of a rewards program that Trump Media is exploring throughout companies.
In May, rumors of a Truth Social memecoin launching circulated on social media. However, Truth Social denied that it was planning to launch a memecoin. Donald Trump Jr., the US president’s eldest son, mentioned that there was “no reality” to the rumors.
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Trump Media and Crypto.com’s relationship
This will not be the primary time that Trump Media has collaborated with Crypto.com. Earlier this 12 months, the corporate partnered with the platform to launch exchange-traded funds (ETFs) monitoring digital belongings and securities “with a Made in America focus.”
The funds will launch by Truth.Fi and might be obtainable by Crypto.com’s broker-dealer, Foris Capital. The ETFs are anticipated to go stay later in 2025, topic to regulatory approvals.
Trump Media has additionally entered a serious settlement with Crypto.com to amass 684.4 million CRO tokens, value roughly $105 million, as a part of a broader $6.4 billion digital-asset treasury technique. The tokens might be acquired by a mixture of inventory and money and held in Crypto.com’s institutional custody, probably permitting Trump Media to stake them for extra yield.
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