Particle.news
Download on the App Store
28 ARTICLES
·
1h ago

Trump Media, Crypto.com Unveil $6.42 Billion CRO Treasury Plan, Eye Nasdaq Listing

Completion hinges on a Yorkville SPAC merger followed by regulatory approval.

Trump crypto ventures include a memecoin, an NFT collection, a decentralized finance app, ETFs, and now another public company.
Image
The logo of Crypto.com is seen at a stand during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco Bello/File Photo
Trump Media teams with Crypto.com to launch $6.4 billion CRO treasury venture

Overview

  • The partners announced Trump Media Group CRO Strategy, a vehicle structured to amass Cronos (CRO) with $1 billion in tokens, $200 million in cash, $220 million in warrants, and a $5 billion equity line.
  • At launch the treasury is slated to hold about 6.3 billion CRO—roughly 19% of supply—and intends to list on Nasdaq under the ticker MCGA after the SPAC combination closes.
  • Trump Media committed to buy approximately $105 million of CRO for its balance sheet, while Crypto.com agreed to purchase about $50 million of Trump Media common stock.
  • CRO will be integrated into Truth Social and Truth+ as a utility and rewards token using Crypto.com’s wallet infrastructure, with plans to enable subscription payments in CRO.
  • The new entity plans to run Cronos validator and staking operations to earn rewards, and CRO surged roughly 20–30% to around $0.20 following the announcement.