Trump’s Truth Social Introduces ‘Gems’ Linked to Utility Token

Key Points

1. Trump Media & Technology Group filed an S-1 registration statement for a 'Blue Chip Crypto ETF' with the SEC, proposing a portfolio of 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP.

2. Truth Social users participating in the 'Patriot Package' will accumulate 'gems' based on engagement, though no timeline for full rollout was provided.

3. The proposed ETF will be sponsored by Yorkville America Digital and list on NYSE Arca upon approval, with Foris DAX Trust Company as the liquidity provider.

4. Truth Social trades under the ticker $DJT following a recent public listing, and the platform is exploring token rewards for user participation.

5. The ETF will offer staking for certain assets, though regulatory clarity around such token systems remains uneven.