Trump Media and Technology Group Corp. (TMTG), the company behind Truth Social, has moved the management of its digital active strategy, choosing to integrate the CRONOS (CRO) token from Crypto.com rather than launching its own usefulness token.
The update, announced on Tuesday, presents a series of new features at the Truth social platform, including premium tools for subscribers to its Patriot package, the paid level of truth + streaming.
Among the additions, there is the possibility of modifying publications, planning content, registering drafts on the server side and accessing the history of versions of published publications. Improved group titles and research functions are also deployed to all users.
A central part of the Liberation is the expansion of the Truth Social awards program. As part of the new system, users can gain “gems” for activity through Truth Social and Truth +.
These jewels can now be converted to Cronos (CRO) via the Crypto.com digital portfolio infrastructure, giving participants the possibility of buying these jewels for a negotiable cryptocurrency rather than a owner Trump media token.
This decision comes from months after TMTG indicated that the launching plans for a native utility token. In April, CEO Devin Nunes told shareholders that the company was considering a token that could be used to pay the subscriptions to Truth + and potentially develop in the wider truth ecosystem.
The proposal has ceased to describe the assets as a cryptocurrency, but the language has echoed the blockchain terminology. At the time, Nunes said that the token would support a reward program linked to the Patriot package.
In July, Truth Social confirmed the tests of a digital reward system, with Patriot Package subscribers capable of accumulating gems according to the activity of the platform.
A message from the company suggested that these rewards would eventually connect to a useful token. This plan has now changed, the Cronos of Crypto.com becoming the digital currency behind the program.
The passage of Trump Media to Cro intervenes while the company seeks to balance its thrust in digital assets with regulatory prudence.
Unlike an autonomous token, the partnership with an established exchange and blockchain provider gives social access to truth to the existing infrastructure while avoiding the risks of launching and maintaining its own cryptocurrency.
Truth Social Trades publicly under the DJT TICKER. After registration in March 2024, the company was estimated at nearly $ 8 billion. Its market capitalization is currently about $ 5.5 billion.
Despite limited income, the company maintained its momentum thanks to the recognition of the brand, its association with American president Donald Trump, and his expansion in streaming via Truth +.
The company also operates Truth.fi, a Fintech division launched in January to pursue investments in Bitcoin and other cryptocurrencies as part of a wider digital financing strategy.
TMTG previously described its mission as building a platform to counter what it calls “censorship of large technologies”, with social truth positioned as an alternative to traditional social networks.
Trump Media concludes the $ 105 million agreement with Crypto.com while Pro-Crypto Push develops
TMTG, the parent company of Truth Social, has entered into an agreement of $ 105 million with Crypto.com to buy 684.4 million Cronos tokens (CRO) as part of a joint treasury strategy.
The agreement, announced on Friday, combines species and actions, with tokens purchased at around $ 0.153 each. The CRO tokens and TMTG actions exchanged will be subject to a locking period.
This decision follows the launch of the Trump Media Group Cro Strategy, a joint venture between TMTG, Crypto.com and Yorkville Acquisition, which plans to build a CRO treasure of $ 6.4 billion.
Social users of truth can possibly have access to CRO via a reward program. The CRO climbed more than 66% since the Treasury initiative was unveiled for the first time in August, trading nearly $ 0.27 when writing the editorial’s moment.
The partnership shows the deepening of Trump’s links with the cryptography sector. Earlier this year, TMTG filed with the US Securities and Exchange Commission (SEC) to launch a Bitcoin and Etheum Social Truth, Crypto.com serving as a goalkeeper.
The ETF, which would allocate 75% to Bitcoin and 25% in Ethereum, remains under the revision of the SEC after the regulators extended the deadline for October 8.
TMTG also positioned among the largest business bitcoin holders, with around 18,430 BTC worth $ 2.1 billion, as well as $ 300 million in options. This outfit ranks sixth in the world, in front of Tesla and Coinbase.
Trump’s expansion of expansion of Trump has attracted support from industry and political criticism.
Cryptographic companies and investors have donated more than $ 26 million to its campaign in 2024, including major contributions from Blockchain.com, Gemini, Andreessen Horowitz and Paradigm.
Critics, however, warn against conflicts of interest as the administration progresses to sweep away digital asset policies while families related to families benefit from stablescoins, coins and mining projects.
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Trump Media and Truth Social expand the involvement of cryptography thanks to user incentives and investment products.
Trump Media + conclude an agreement of $ 6.4 billion to launch a treasure of digital assets in Croas.