Truthcoin was listed on the mid-tier crypto exchange, AZBITS on July 30th, 2022 at $0.20 cents USD.
It’s traded between $0.15 and $0.20 cents ever since.
Talks have been reportedly held for TruthGroup, to take a majority stake in Truthcoin, as it’s keen to fast-track its TruthPay app, an alternative to PayPal.
One way it may do this is by agreeing to asset back the 400 million Truthcoins, with 400 million shares to be issued in TruthGroup.
If it were to do this, it would make the cryptocurrency even more attractive, as it would be an asset-backed crypto, with real intrinsic value.
Overcoming a major criticism of many cryptos, which are backed by nothing.
It would work via a holder of Truthcoins, who could request an equivalent amount in TruthGroup shares, to be issued for a nominal administrative fee.
Although holders wouldn’t be required to, as they would have peace of mind that they can be issued at any time in the future, at a 1-1 ratio of one Truthcoin to one TruthGroup share.
A decision is expected to be decided within months if such a plan is to proceed.
It would mean effectively one could buy shares indirectly via the licensed crypto exchanges, such as Azbits, that Truthcoin is listed on under the TRP ticker code.
Knowing they can then request TruthGroup, to issue an equivalent amount in shares for a small administration fee.
The shares though would only be transferable or redeemable based on showing ownership of the Truthcoins if purchased this way. (and only whilst holding them).
Or sophisticated investors could access TruthGroup shares by way of limited discounted Private Placements, which become available from time to time via TruthGroup, or broker or exchange platforms. However, retail investors from most countries and US and Singapore Residents, are not allowed to partake in private share purchases this way.
But most countries allow citizens to purchase cryptocurrencies via licensed exchanges, but with warnings about the risks of many not being backed by anything.
If TruthGroup were to reach some of its milestones of even 10% of its $1 billion valuation goals within 5 years, Truthcoin holders or purchasers would do very well by holding what would be an asset-backed crypto if the deal proceeds.
For further information on TruthGroup visit www.TruthGroup.social
It is the owner of the censor-free social media platform Truthbook.social and YouTube alternative in TruthTube.video and Twitter alternative in Truthtweet.social amongst other assets and platforms, and is buying up independent news networks as well to expand its databases.
Its biggest asset could become its PayPal alternative in TruthPay which would also facilitate crypto payments, not just credit and debit cards.