Binance Lists Trump Media’s Tokenized Stock and Turns It Into Collateral

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Binance began trading DJTB, a tokenized stand-in for Trump Media and Technology Group’s Nasdaq-listed stock, at 12:00 UTC on August 26. At the same hour, the exchange made DJTB usable as margin collateral for its VIP 3 and higher users, according to Binance’s spot listing announcement and its separate collateral announcement, both posted that day.

That pairing is unusual for Binance’s own product. When bStocks launched on June 11 with tokens for Nvidia, Tesla, Circle, Micron and Sandisk, those tokens traded as spot assets alone for weeks before Binance started clearing them for margin use in batches through July. DJTB got both on day one, part of a wider push by major venues toward 24/7 tokenized securities trading.

What DJTB Collateral Actually Allows

The token is issued by BTech Holdings, a Binance group affiliate, under an approved prospectus from Abu Dhabi’s ADGM regulator. Binance’s own listing notice describes DJTB as “an interest in underlying securities,” not direct share ownership, carrying no voting rights and no U.S. availability. Users can convert it 1:1 into and out of the underlying stock holding at no fee, and Binance is waiving spot trading fees on the DJTB/USDT pair through August 31. The structure mirrors what rival exchanges have already tested with1:1 backed tokenized stocks of their own.

Collateral use comes with limits Binance spelled out in its collateral notice: borrowing against DJTB is “not currently supported,” so it can only secure existing positions, not fund new ones. The exchange also told users to “adopt stringent risk management strategies and regularly monitor their margin levels,” a caution that matters more here than for most bStocks. Trump Media’s stock has swung sharply on political and corporate news in past months, and a collateral asset that drops fast can trigger the same cross-margin liquidations Binance warns about in its own risk notice.

A Concentrated Pool, and a Pardoned Founder

DJTB also arrives into a bStocks book that outside analysis has already flagged as concentrated. Weekly net inflows into bStocks were $193.3 million in the first week of July, down 15% from the week before, and technology names made up 83% of that inflow, semiconductors alone accounting for nearly half. Roughly 700 of the more than 7,000 stocks Binance says it can tokenize have actually traded. Layering a politically exposed, comparatively thin-volume name into that same collateral pool adds a stock whose price risk is tied to something other than sector fundamentals.

The listing also sits inside a relationship that has already drawn scrutiny. Trump pardoned Zhao in October 2025, ending Zhao’s post-plea-deal restrictions related to Binance’s 2023 U.S. money-laundering settlement, according to the Justice Department’s own pardon record. Zhao has said his ties to the Trump family have been “misconstrued” and that no business relationship exists between him and them. Whatever that relationship is, BTech Holdings both issues DJTB and Binance both trades and now collateralizes it, the same structure Binance uses for every other bStock, and it lands against a backdrop where the Trump family’s broader crypto windfall is already under public scrutiny.

Binance has not said why DJTB skipped the wait other bStocks served between listing and collateral status. Whether that gap disappears for future political or public-figure-linked tokens, or was specific to this one, is the detail worth watching the next time Binance adds a bStock to its collateral list.