Trump’s Truth Social Shifts Focus to Crypto.com’s Cronos Token
The Trump Media and Technology Group Corp. (TMTG), the company behind Truth Social, has made a significant change in its digital asset strategy. Instead of launching its own token, the company has decided to integrate Crypto.com’s Cronos (Cro) token into its platform. This move is part of a broader effort to expand the capabilities of Truth Social, including the introduction of premium tools for subscribers to its Patriot package and the paid streaming service, Truth+.
The update, announced on Tuesday, brings a range of new features to the platform, including the ability to edit contributions, plan content, store server-side designs, and access a historical version of published contributions. Additionally, group titles and extended search functions have been introduced for all users. The expansion of the Reward program on Truth Social is also a key component of this update, allowing users to earn “gemstones” for activities on the platform, which can be converted into Crypto.com’s Cronos (CRO) tokens.
Truth Social Rewards Go Crypto, Replacing In-House Token Plans
The decision to use Crypto.com’s Cronos token instead of developing its own token is a significant shift for TMTG. The company had previously announced plans to introduce a native utility token, which was intended to support a reward program associated with the Patriot package. However, this plan has now been abandoned in favor of partnering with Crypto.com to use its existing infrastructure and token. This move is seen as a way for TMTG to avoid the risks and regulatory challenges associated with launching its own cryptocurrency.
The partnership between TMTG and Crypto.com is a notable development in the crypto space, and it reflects the growing interest in digital assets among mainstream companies. The use of Crypto.com’s Cronos token on Truth Social will provide users with a tradable cryptocurrency, rather than a proprietary token that may have limited use cases. This move is also seen as a way for TMTG to tap into the existing infrastructure and user base of Crypto.com, which has established itself as a major player in the crypto industry.
Trump Media Strikes $105M Deal with Crypto.com as Pro-Crypto Push Expands
TMTG has also announced a $105 million deal with Crypto.com, which includes the purchase of 684.4 million Cronos (CRO) tokens. This agreement is part of a broader strategy to expand the use of crypto on the Truth Social platform, and it reflects the company’s commitment to the crypto space. The deal also includes a partnership between TMTG, Crypto.com, and Yorkville Acquisition to build a Cro-based treasury, which will provide a new way for users to access and use crypto on the platform.
The partnership between TMTG and Crypto.com is a significant development in the crypto industry, and it reflects the growing interest in digital assets among mainstream companies. The use of Crypto.com’s Cronos token on Truth Social will provide users with a tradable cryptocurrency, rather than a proprietary token that may have limited use cases. This move is also seen as a way for TMTG to tap into the existing infrastructure and user base of Crypto.com, which has established itself as a major player in the crypto industry.
For more information on this development, please visit https://cryptonews.com/news/trumps-truth-social-ditches-own-token-plan-adds-cro-instead/
