Trump Media advanced plans for a shareholder token airdrop and set Feb. 2 as the record date, the company announced. The date will determine which shareholders qualify for a non-tradable rewards token.
Shareholders who own at least one share as a beneficial owner or registered holder on Feb. 2 will be eligible. Crypto.com will mint the tokens, display them on the blockchain, and custody them until distribution.
The company, which previously announced the plan, said the token is not a tokenized stock and gives no shareholder rights or claim on future earnings. It also cannot be redeemed for cash, though holders may receive discounts on products such as Truth Social periodically (Ed. note: the token provides limited, non-financial benefits).
Devin Nunes, CEO and chairman, said regulatory guidance is shaping the rollout. “We look forward to leveraging Crypto.com’s blockchain technology consistent with Securities and Exchange Commission guidance to benefit our shareholders and promote transparency, including by obtaining a clear picture of bona fide beneficial ownership as of the record date,” he said.
Shares of Trump Media opened (per market data) at about $13.85, rose to $14.94, then closed near $13.91. Data shows nearly 280 million shares outstanding, with over 41% held by insiders, 32% by the public and 23% by institutions, according to ownership estimates.
A social post by Solana Floor also circulated online about the token’s visuals, linked here as a public post: social post.
