Catenaa, Saturday, September 13, 202- Trump Media and Technology Group (TMTG) has scrapped plans for a proprietary utility token, opting instead to integrate Crypto.com’s Cronos (CRO) into its platform.
The update enhances the Truth Social experience with features including post editing, content scheduling, server-side drafts, version history, and group management.
Users can earn platform “gems” through activity, now convertible into CRO via Crypto.com’s wallet, providing tradable cryptocurrency rewards rather than a TMTG-issued token.
The shift aligns with regulatory caution, leveraging Crypto.com’s existing infrastructure while avoiding the risks of a self-issued digital asset.
The partnership involves a $105 million purchase of 684.4 million CRO tokens through a combination of cash and stock, forming part of a broader $6.4 billion treasury strategy with Yorkville Acquisition.
TMTG also continues its broader digital finance initiatives, including Truth.Fi and a pending SEC review for a Truth Social Bitcoin and Ethereum ETF, with the company holding roughly 18,430 BTC valued at $2.1 billion. The CRO adoption underscores TMTG’s growing footprint in the cryptocurrency space while offering users tangible crypto rewards.
Truth Social replaces planned native token with Crypto.com’s CRO.
Platform upgrades include editing, scheduling, drafts, and group tools.
Users earn gems redeemable for CRO through Crypto.com wallets.
$105M CRO acquisition supports $6.4B TMTG crypto treasury strategy.
Truth Social drops its native token plan, adopting Crypto.com’s CRO; users can earn gems convertible to CRO, supporting TMTG’s $6.4B crypto treasury.
