Trump Media, Crypto.com To build a $ 6.4B CRO Treasury Firm, CRO jumped 25%

Trump Media and Technology Group (DJT) has signed a strategic cooperation with Crypto.com to integrate the Cronos Cro$0.1937 The cryptocurrency and the digital wallet infrastructure of the exchange in social reality platforms, according to a Press release.

Collaboration coincides with the launch of Trump Media Group CRO Strategy Inc., a separate vehicle that has entered a specific agreement to combine with the special purpose of obtaining the Yorkville Acquisition Corp company company (York).

When completed, the entity is merchant under the MCGA ticker (“Make CRO again”) And, according to CEO of Crypto.com Kris Marszalek, has become the largest CRO holder in the world with nearly 6.3 billion tokens, worth nearly $ 1 billion at the time of announcement.

Marszalek described the initiative as “a historic day for CRO,” pointing to an initial $ 200 million cash marked for additional token purchases, along with additional promises that could bring total available funds to nearly $ 420 million, in conjunction with a $ 5 billion line of credit.

“It presents a diverse opportunity for investors in the digital asset space,” he said in a TweetAdding that the mission of Trump Media Group CRO’s approach is to maximize what he calls the “flywheel effect,” which involves raising funds to gain more CRO.

The deal includes creating a new reward system that will allow users to convert “gems” of the platform to CRO tokens, with additional plans to enable subscription payments and discount services using CRO.

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

Trump Media said it would be careful and stake CRO Holdings with crypto.com for further income. Following the announcement, the CRO price increased from 16 cents to 20 cents.