Trump Media Sets Feb. 2 Record Date for ‘Non-Transferable’ Crypto Token

The Lead

Trump Media & Technology Group (TMTG) has set February 2, 2026, as the record date for its digital token distribution, a move management frames as a loyalty initiative but which functions technically as a shareholder census. The tokens will be minted on the Cronos blockchain in partnership with Crypto.com.

The Details

Shareholders holding at least one share of DJT at the close of the record date will receive a 1:1 distribution of the new digital asset. TMTG specified the tokens are strictly utility-based: they are non-transferable, hold no cash value, and cannot be traded on secondary markets. Custody and minting will be handled by Crypto.com.

Markets reacted with indifference. DJT shares traded flat at $13.62 (-1.8% pre-market), while Cronos (CRO) hovered around $0.092, down 2% on the day.

The Institutional Angle

While marketed as a rewards program for Truth Social users, the structural design, specifically the 1:1 ratio and blockchain tracking, mirrors tactics used to combat naked short selling. By forcing a digital distribution that cannot be cash-settled, issuers can theoretically force brokers to reconcile share counts.

“We look forward to leveraging Crypto.com’s blockchain technology… to promote transparency, including by obtaining a clear picture of bona fide beneficial ownership,” said TMTG CEO Devin Nunes.

This phrasing suggests the primary utility of the token may be forensic rather than financial, forcing a hard count of the company’s float.