Trump Media, Crypto.com to Build $6.4B CRO Treasury Firm, CRO Jumps 25%

Trump Media and Technology Group (DJT) has signed a strategic partnership with Crypto.com to integrate the cronos $CRO$0.1909 cryptocurrency and the exchange’s digital wallet infrastructure into its platforms Truth Social, according to a press release.

The partnership coincides with the launch of Trump Media Group $CRO Strategy Inc., a separate vehicle that has entered into a definitive agreement to merge with special purpose acquisition company Yorkville Acquisition Corp (YORK).

Upon completion, the entity will trade under the ticker MCGA (“Make $CRO Great Again”) and, according to Crypto.com CEO Kris Marszalek, become the world’s largest holder of $CRO with around 6.3 billion tokens, valued at roughly $1 billion at the time of announcement.

Marszalek described the initiative as “a historic day for $CRO,” pointing to an initial $200 million in cash earmarked for further token purchases, plus additional commitments that could bring total available funds to around $420 million, alongside a $5 billion credit line.

“This presents a differentiated opportunity for investors in the digital asset treasury space,” he said in a tweet, adding that the mission of Trump Media Group $CRO Strategy is to maximize what he called a “flywheel effect,” which involves raising funds to acquire more $CRO.

The deal includes the creation of a new rewards system that will allow users to convert platform “gems” into $CRO tokens, with further plans to enable subscription payments and discounted services using $CRO.

As part of the agreement, Trump Media will purchase about $105 million worth of $CRO, roughly 2% of the token’s total market cap, while Crypto.com will buy $50 million in Trump Media stock.

Trump Media said it will custody and stake its $CRO holdings with Crypto.com for additional revenue. Following the announcement, $CRO’s price rose from 16 cents to 20 cents.