Trump Media allows users to convert Truth gems into CRO tokens as part of new rewards program

Trump Media and Technology Group has updated its Truth Social platform to integrate a digital rewards program that connects user activities with cryptocurrency. The company announced on Tuesday that Truth Social users subscribed to the Patriot Package, a premium version of its Truth+ streaming platform, will be able to earn “Truth gems” as part of the upgraded rewards system.

These gems can be earned through various activities across Trump Media’s platforms. In an exciting development, users will be able to convert their Truth gems into Cronos (CRO) tokens, the native cryptocurrency of Crypto.com, using the exchange’s wallet infrastructure. The move marks a significant step in Trump Media’s venture into the world of digital assets.

A shift from launching a proprietary token

The decision to integrate CRO tokens represents a pivot from Trump Media’s earlier plans to launch its own utility token. In April, Trump Media had announced that it was exploring the introduction of a proprietary token to support Truth+ and other services. In a letter to shareholders, Devin Nunes, the company’s CEO, revealed plans to introduce a digital wallet and a utility token that would initially be used to pay for subscriptions and be integrated into a rewards program across its ecosystem.

Despite these earlier plans, Trump Media has opted to use CRO tokens instead, a well-established cryptocurrency, signaling a shift in strategy toward more mainstream crypto adoption.

In May, rumors began circulating on social media about the potential launch of a Truth Social memecoin. However, Trump Media quickly denied these rumors, with Donald Trump Jr. stating that there was “no truth” to the speculation. Instead, the company has focused on integrating an existing token (CRO) into its rewards system rather than creating a new token from scratch.

Trump Media and Crypto.com’s ongoing partnership

This is not the first collaboration between Trump Media and Crypto.com. Earlier in the year, the two companies partnered to launch exchange-traded funds (ETFs) that track digital assets and securities with a Made in America focus. These ETFs will launch through Truth.Fi and be available via Crypto.com’s broker-dealer, Foris Capital, with a planned release in 2025, pending regulatory approvals.

In addition, Trump Media has entered into a $6.4 billion digital-asset treasury strategy that includes the acquisition of 684.4 million CRO tokens worth approximately $105 million. These tokens will be acquired through a combination of stock and cash, with the tokens held in Crypto.com’s institutional custody. This agreement may allow Trump Media to stake the CRO tokens for additional yield, further solidifying its ties to the growing world of crypto.