- Trump Media and Technology Group plans to issue a blockchain token called DJT to existing shareholders at a 1:1 ratio.
- The DJT token will be launched with crypto.com and may offer perks like discounts on Truth Social, Truth+, and Truth Predict.
- The token is not a tokenized stock and does not grant shareholder rights or claims on company earnings, the company confirmed to Cointelegraph.
- Similar tokenized equity products have drawn warnings that they do not convey legal ownership, as shown by a recent OpenAI response to a separate token rollout.
Trump Media and Technology Group said on Dec. 31 it will distribute a blockchain token named DJT to shareholders at a 1:1 ratio, issuing one token for each share owned, according to the company announcement.
The token will be launched in collaboration with Crypto.com and may include rewards and perks for DJT shareholders, such as discounts on Truth Social, the Truth+ streaming service, and the prediction market Truth Predict.
Public information and visuals note that the planned tokens will not track the company’s stock price. Tokenized equities are a broader category of digital representations tied to traditional assets;
In a separate example, a brokerage rollout of private equity tokens prompted a public rebuttal from OpenAI.
“We did not partner with Robinhood, we were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval. We did not approve any transfer,” OpenAI said in response.
Industry commentators note many tokenized equity products do not confer company claims, voting rights or access to internal financial information; as John Murillo of B2BROKER put it,
“There is no direct claim on company assets, no voting rights, and no access to internal financial information.”
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