Trump token initiative begins: More pay for play?

The Trump family isn’t done with memes. The U.S. president’s media group, Trump Media & Technology Group (TMTG), announced its “Digital Token Initiative” this week.

Shareholders of TMTG, according to the release, will soon be eligible to receive a digital token linked to the MAGA-focused Truth Social platform. These tokens can’t be transferred, exchanged for cash, or traded on Polymarket—yet.

Still, Polymarket traders are betting a 27% chance Trump will launch a full-fledged cryptocurrency before the year is out.

It’s not just about social media anymore

Shareholders of at least one whole share of DJT stock will be eligible to receive tokens and associated rewards, including benefits for Trump products (i.e. Truth Social and Truth+).

Additional details on the minting, allocation, and distribution process remain unclear.

TMTG, which was once laser-focused on taking on Elon Musk’s X, is now diving headfirst into blockchain technology.

And, of course, the Trump family is already making a mint off it. In the first half of 2025, they reportedly raked in $802 million from crypto operations, with over 90% of their reported income coming from digital assets.

Forget golf courses and real estate licensing fees; NFTs and meme coins are the new cash cows.

For every crypto fan sending Trump a virtual fist bump for embracing the blockchain, there’s a sizable group of critics shaking their heads. And the reasons are… spicy.

1. Conflicts of Interest, Served Hot
   Trump’s in charge of regulating the crypto space, but he’s also holding a direct financial stake in it. Critics argue that’s a bit like having your cake and eating it too—while making sure no one else gets a bite. And let’s not even get started on the exclusive dinners with $TRUMP coin holders. Reportedly, some top coin holders got private access to Trump, which smells a lot like “pay-to-play.”
2. Pump-and-Dump or Crypto Roulette? Here’s where it gets dicey: reports say the Trump family controls 80% of the $TRUMP coin. That’s a pretty hefty chunk to hold onto, and critics say it opens the door for them to dump their tokens at any moment—leaving regular investors high and dry. Meanwhile, $MELANIA coin saw a 95% drop in value, and some are alleging it was all part of a “get-rich-quick” scam.
3. Is This Legal? Let’s Ask a Lawyer
   According to the Emoluments Clause of the U.S. Constitution, public officials can’t take gifts or money from foreign entities while in office. But now, with foreign agents potentially buying Trump Tokens, there’s the small question of whether this violates that rule. Experts say it’s ethically questionable, especially since the coins were marketed as “expressions of support” rather than investments.

So, is Trump’s blockchain push a brilliant crypto revolution or just another chance to make a few million off The People? Only time—and the Polymarket odds—will tell. Stay tuned.