Trump Media & Technology Group stated that the cryptocurrency Token linked to DJT stock may be non-transferable and cannot be redeemed for cash.
This information emerges as the company plans to implement a Token distribution mechanism for DJT shareholders in the near future, highlighting the limitations on trading and exchangeability.
- Each end-benefiting owner can receive 1 Token for each DJT share.
- Token may be non-transferable.
- Token may not be redeemable for cash.
Details of the Token distribution plan linked to DJT shares.
Trump Media & Technology Group anticipates that each beneficiary will ultimately be eligible to receive 1 cryptocurrency Token for each DJT share they hold.
According to information released on December 31st, the mechanism is expected to apply to ultimate beneficial owners, i.e., those who ultimately benefit from DJT shares. The distribution is described as potentially happening in the near future, but no specific timing, Token redemption process, or verification requirements have been stated.
Notably, the Token is described as a benefit attached to the shares at a 1:1 ratio (1 Token for every DJT share). The article does not provide data on the total Token supply, the blockchain used, or whether the Token is tied to any other governance/utility benefits beyond the Token eligibility information.
Transaction restrictions: non-transferable and cannot be exchanged for cash.
The company warned that the Token may be non-transferable and cannot be exchanged for cash, reducing liquidation.
The phrase "may be" indicates that this is a hypothetical possibility, not a final commitment regarding the Token characteristics. If the Token is non-transferable, the recipient may not be able to send the Token to another wallet or sell it on the secondary market; if it cannot be cashed, the Token may not be directly convertible into fiat currency.
The original text only states these two limitations and does not mention whether the Token can be traded through any other means, nor does it provide a pricing mechanism or conditions for future policy changes.
