US EditionTrump family crypto empire expands with Crypto.com partnership
The $6.42 billion treasury will hold approximately 19% of CRO's total market cap, supported by $200 million cash and a $5 billion credit line to back the Cronos ecosystem.
- Trump Media & Technology Group and Crypto.com will form a company to accumulate the cryptocurrency platform's native token cronos, strengthening Trump's ties to the crypto industry.
- The new company, Trump Media Group CRO Strategy, will go public via a merger with Yorkville Acquisition Corp and trade on the Nasdaq under the 'MCGA' symbol.
- Funding for the venture will include $1 billion in cronos tokens, $200 million cash, $220 million in warrants, and a $5 billion equity line of credit.
48 Articles
48 Articles
Trump family crypto empire expands with Crypto.com partnership
President Donald Trump’s personal crypto ventures are expanding again, this time with plans for a digital asset treasury company that holds an alternative cryptocurrency. Trump Media and Technology Group, which operates the Truth Social media platform, announced Tuesday that it was partnering with the cryptocurrency exchange Crypto.com to form a company that holds CRO, a token created by Crypto.com. A blank check company tied to Yorkville Adviso…
Trump media firm raises $6.4 billion to invest in Crypto.com’s digital token, deal includes purchase of Trump stock
The Trump crypto empire keeps on expanding. On Tuesday, the company that owns the Trump family’s media properties announced it has raised $6.42 billion to acquire a supply of a digital token called Cronus, which is issued by Crypto.com, one of the world’s largest crypto exchanges. The funding includes a $5 billion credit line, an already acquired stash of $1 billion of Crypto.com’s token, $220 million in warrants, and $200 million in cash. The b…
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