Journalist
Hassan Shittu
Journalist
Hassan Shittu
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Trump Media and Technology Group Corp. (TMTG), the company behind Truth Social, has shifted direction on its digital asset strategy, opting to integrate Crypto.com’s Cronos (CRO) token rather than launching its own utility token.
The update, announced Tuesday, introduces a series of new features to the Truth Social platform, including premium tools for subscribers to its Patriot Package, the paid tier of Truth+ streaming.
Among the additions are the ability to edit posts, schedule content, save server-side drafts, and access a version history of published posts. Group titles and enhanced search functions are also being rolled out to all users.
A central part of the release is the expansion of Truth Social’s rewards program. Under the new system, users can earn “gems” for activity across Truth Social and Truth+.
These gems can now be converted into Cronos (CRO) through Crypto.com’s digital wallet infrastructure, giving participants the option to redeem those gems for a tradable cryptocurrency rather than a proprietary Trump Media token.
The move comes months after TMTG indicated plans to launch a native utility token. In April, CEO Devin Nunes told shareholders that the company was considering a token that could be used to pay for subscriptions to Truth+ and potentially expand across the broader Truth ecosystem.
The proposal stopped short of describing the asset as a cryptocurrency, but the language echoed blockchain terminology. At the time, Nunes said the token would support a rewards program tied to the Patriot Package.
In July, Truth Social confirmed the testing of a digital rewards system, with Patriot Package subscribers able to accumulate gems based on platform activity.
A post from the company suggested these rewards would eventually connect to a utility token. That plan has now shifted, with Crypto.com’s Cronos becoming the digital currency behind the program.
Trump Media’s shift to CRO comes as the company seeks to balance its push into digital assets with regulatory caution.
Unlike a self-issued token, partnering with an established exchange and blockchain provider gives Truth Social access to existing infrastructure while avoiding the risks of launching and maintaining its own cryptocurrency.
Truth Social trades publicly under the ticker DJT. Following a March 2024 listing, the firm was valued at nearly $8 billion. Its market capitalization currently sits around $5.5 billion.
Despite limited revenues, the company has maintained momentum through brand recognition, its association with U.S. President Donald Trump, and expansion into 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 broader digital finance strategy.
TMTG has previously described its mission as building a platform to counter what it calls “Big Tech censorship,” with Truth Social positioned as an alternative to mainstream social networks.
Trump Media Strikes $105M Deal With Crypto.com as Pro-Crypto Push Expands
TMTG, the parent company of Truth Social, has finalized a $105 million deal with Crypto.com to purchase 684.4 million Cronos (CRO) tokens as part of a joint treasury strategy.
The agreement, announced Friday, combines cash and stock, with tokens purchased at roughly $0.153 each. The CRO tokens and TMTG shares exchanged will be subject to a lockup period.
The move 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 $6.4 billion CRO treasury.
Truth Social users may eventually gain access to CRO through a rewards program. CRO has climbed more than 66% since the treasury initiative was first unveiled in August, trading near $0.27 at the time of writing.
The partnership shows Trump’s deepening ties with the crypto sector. Earlier this year, TMTG filed with the U.S. Securities and Exchange Commission (SEC) to launch a Truth Social Bitcoin and Ethereum ETF, with Crypto.com serving as custodian.
The ETF, which would allocate 75% to Bitcoin and 25% to Ethereum, remains under SEC review after regulators extended the deadline to October 8.
TMTG has also positioned itself among the largest corporate Bitcoin holders, with about 18,430 BTC valued at $2.1 billion, along with $300 million in options. That holding ranks it sixth globally, ahead of Tesla and Coinbase.
Trump’s expanding $1.2 billion crypto empire has drawn both industry support and political criticism.
Crypto companies and investors have donated over $26 million to his campaign in 2024, including major contributions from Blockchain.com, Gemini, Andreessen Horowitz, and Paradigm.
Critics, however, warn of conflicts of interest as the administration advances sweeping digital asset policies while family-linked ventures profit across stablecoins, meme coins, and mining projects.
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