Trump Media to set up CRO Strategy in $6.42B deal with Crypto.com
New Trump-backed SPAC deal creates Trump Media Group CRO Strategy, funded by $1 billion in CRO tokens, cash, warrants and a $5 billion credit line from Yorkville affiliate.
Trump Media and Technology Group, the owner of US President Donald Trump’s Truth Social platform, announced a business combination with cryptocurrency exchange Crypto.com and the blank check company Yorkville Acquisition.
Trump Media, Crypto.com and Yorkville Acquisition entered into a definitive agreement to jointly establish Trump Media Group CRO Strategy, according to a Tuesday announcement.
The entity will be a digital asset treasury company focused on the acquisition of Cronos (CRO), the native cryptocurrency of the Cronos blockchain, developed by Crypto.com.