Trump Media Acquires 684M CRO for Cronos Treasury, Strikes Deal with Crypto.com

Trump Media secures 684M CRO valuing at $105M and partnering with Crypto.com to create a Cronos Treasury and enhance blockchain adoption.
By Paul
Donald Trump with Cronos CRO tokens, symbolizing Trump Media’s $105M treasury

Highlights

  • Trump Media acquires 684M CRO tokens, establishing Cronos Treasury with Crypto.com.
  • Partnership expands fintech vision with CRO rewards integrated into Truth Social platforms.
  • CRO token acquisition by Trump Media increases its value and improves blockchain adoption strategies.

A deal with Crypto.com has led to the establishment of a Cronos Treasury by the Trump Media and Technology Group. The company confirmed the acquisition of 684.4 million Cronos (CRO) tokens. This is valued at about $105 million, in a transaction split between stock and cash.

Advertisement
Advertisement

Trump Media Expands Fintech Vision With Cronos Treasury and Crypto.com Partnership

According to a press release, the purchased CRO tokens represent around two percent of its circulating supply. Trump Media will safeguard these holdings with Crypto.com custody, an institutional-grade platform that enables secure storage and staking. This setup allows Trump Media to earn additional revenue. This also helps build its Cronos treasury as the firm builds its long-term digital asset strategy.

Devin Nunes, CEO and Chairman of Trump Media, described the acquisition as a move to strengthen the company’s fintech ambitions. He stated that CRO’s potential as a payment solution and fast settlement tool was part of the reason for establishing this Cronos treasury. Meanwhile, Crypto.com CEO Kris Marszalek noted that the partnership would showcase CRO’s utility and value, backed by secure custody and staking infrastructure.

In addition to the token buy, there is product integration. Truth Social and Truth+ will also include CRO as the foundation to build a rewards system that runs on the wallet technology of Crypto.com. This marks one of the clearest steps yet in weaving blockchain-based incentives into Trump Media’s consumer platforms. This CRO purchase could be a part of the plan for Trump Media to have a one-billion-dollar Cronos treasury.

This move also aligns with the launch of Trump Media Group CRO Strategy, Inc., a dedicated vehicle for establishing the Cronos treasury. That entity is pursuing a merger with Yorkville Acquisition Corp, a Nasdaq-listed SPAC. If successful, the new firm would concentrate on building a treasury centered on Cronos, adding to Trump Media’s influence in the blockchain space.

Advertisement
Advertisement

Price Of CRO Go Up as Trump Media Deal Increases Market Confidence

Cronos itself is scalable and interoperable, and can serve as a platform on which decentralized finance, commerce, and infrastructure applications can be built. By joining Trump Media, the network acquires one of its biggest institutional backers so far.

Trump Media has solidified its interest towards digital assets by securing such massive amounts of CRO tokens, and by tying it to Truth Social and Truth+. As part of exploring the crypto space, Trump Media has also grown a Bitcoin treasury, which recently crossed $2 billion in value.

The rising CRO price shows markets are already responding to the move. It also sets the stage for further integration between mainstream media, fintech, blockchain ecosystems and the growing Cronos treasury by Trump media.

The announcement had a direct effect on CRO’s market activity. According to TradingView data, CRO opened near $0.268 and surged to $0.274 by mid-afternoon. That represents a gain of over 2% in a few hours.

CRO price surges above $0.274 after Trump Media acquisition news.
CRO jumped over 2% as Trump Media’s $105 million Cronos treasury creation boosted confidence.
Advertisement
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others. He holds a degree in Geophysics from OAU, Nigeria. When he's not writing, he loves watching soccer and reading educative journals. He can be reached via [email protected]
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.