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Techub News reports that Truth Social's parent company, Trump Media & Technology Group (DJT), plans to partner with Crypto.com to distribute digital tokens to its shareholders, with the Cronos blockchain expected to be used. According to the plan, DJT's ultimate beneficial holders will be eligible to receive 1 new token for each share held, and token holders can obtain benefits or discounts for products such as Truth Social, Truth+, and Truth Predict. The token does not represent an ownership interest in the company and may be non-transferable or non-convertible into cash.
Techub News reported, according to The Block, Trump Media & Technology Group filed two new cryptocurrency ETF applications with the U.S. Securities and Exchange Commission (SEC) on Friday, after several of its crypto ETF proposals were delayed last August. The two proposed ETFs are a Bitcoin and Ethereum ETF, and an ETF tracking the native token of the Cronos blockchain by Crypto.com. Both funds will offer on-chain staking rewards, with asset management firm Yorkville America Equities serving as the advisor. If approved, the management fee for both will be 0.95%, and subscriptions will be conducted through Foris Capital US LLC, the broker-dealer of Crypto.com.
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