Trump Media announced that users who earn gems by participating in Trump Media activities will be able to convert them into Cronos.
Trump Media and Technology Group has updated its Truth Social platform to connect its digital rewards program with cryptocurrency.
The company announced on Tuesday that Truth Social users subscribed to its Patriot Package, a paid version of its Truth+ streaming platform, will gain access to premium features like the “Truth gems,” as part of its upgraded rewards program.
The gems can be earned through activities across Trump Media’s platforms and converted into Cronos (CRO), the native token of Crypto.com, using the exchange’s wallet infrastructure.
Cointelegraph reached out to Crypto.com for more information, but did not receive a response by publication.
Trump Media takes a different approach to Truth Social rewards
The move to integrate CRO signals a pivot from the company’s earlier remarks about exploring the launch of its own utility token.
In April, Trump Media said it was exploring the launch of a proprietary token and digital wallet to support its Truth+ streaming platform. In an April 29 letter to shareholders, Trump Media CEO Devin Nunes said the company is exploring the introduction of a utility token within a Truth digital wallet.
Nunes said the token can initially be used to pay for subscription costs and be applied to other products within the ecosystem. He added that the token will also be part of a rewards program that Trump Media is exploring across services.
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, said that there was “no truth” to the rumors.
Related: Trump family’s wealth grew by $1.3B following ABTC and WLFI debuts: Report
Trump Media and Crypto.com’s relationship
This is not the first time that Trump Media has collaborated with Crypto.com. Earlier this year, the company partnered with the platform to launch exchange-traded funds (ETFs) tracking digital assets and securities “with a Made in America focus.”
The funds will launch through Truth.Fi and will be available through Crypto.com’s broker-dealer, Foris Capital. The ETFs are expected to go live later in 2025, subject to regulatory approvals.
Trump Media has also entered a major agreement with Crypto.com to acquire 684.4 million CRO tokens, worth roughly $105 million, as part of a broader $6.4 billion digital-asset treasury strategy. The tokens will be acquired through a mix of stock and cash and held in Crypto.com’s institutional custody, potentially allowing Trump Media to stake them for additional yield.
Magazine: ‘Accidental jailbreaks’ and ChatGPT’s links to murder, suicide: AI Eye
