The company behind Donald Trump’s social network has announced plans to distribute a new cryptocurrency token to shareholders, driving the share price sharply higher on the final day of the year.
Trump Media & Technology Group (TMTG), controlled by Trump’s family, on Wednesday said it would distribute the token “in the near future” in partnership with the Crypto.com exchange.
Shares in TMTG, which is listed on the Nasdaq, jumped more than 9 per cent in New York following the announcement. The stock has fallen in recent months and remains roughly 60 per cent lower than at the start of the year.
The…
