- Trump Media, Crypto.com, and Yorkville Acquisition Corp. have agreed to create Trump Media Group CRO Strategy, Inc., a publicly traded digital asset treasury company.
- The SPAC fomred entity is designed specifically to amass and manage CRO tokens.
- Trump Media will embed CRO across its ecosystem, like Truth Social and Truth+ by using Crypto.com’s wallet infrastructure.
Trump Media & Technology Group, Crypto.com, and Yorkville Acquisition Corp. have revealed plans to establish the Trump Media Group CRO Strategy Inc. This will be a publicly traded digital asset treasury company focused on the Cronos ecosystem’s native token, CRO. The announcement comes as part of a SPAC deal with Yorkville. The new venture aims to transform Trump Media’s crypto ambitions into a structured, market-facing enterprise.
Largest digital asset treasury in the works
After the merger, Trump Media Group CRO Strategy will be mainly owned by Yorkville, Trump Media, and Crypto.com. Together, they plan to fund the company with $1 billion worth of CRO tokens (about 19% of CRO’s total market cap), $200 million in cash, and $220 million from warrants. They’ll also have access to a $5 billion credit line from Yorkville’s affiliate, YA II PN, Ltd. This would make it the biggest publicly traded CRO treasury company ever, and possibly the largest digital asset treasury relative to market cap in history.
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At launch, the company will trade under the ticker “MCGA” on Nasdaq. Showing their long-term intent, the three companies have agreed to a one-year lock-up of shares and warrants, followed by a three-year gradual release schedule.
“We continue to be bullish on cryptocurrency, and we are excited to be partnering with a leading global cryptocurrency platform and namesake of its industry in Crypto.com and one of the most sophisticated investor groups in Yorkville for this strategic initiative,” said Devin Nunes, Chairman and CEO of Trump Media & Technology Group.
“The mission of Trump Media Group CRO Strategy is to enhance shareholder value by maximising THE FLYWHEEL EFFECT: more funds raised, more CRO bought, prices appreciate, allowing for more funds to be raised and more CRO to be bought,” said Crypto.com CEO Kris in his X post, detailing contours of the deal.
Expanding CRO’s reach & utility
Trump Media is also integrating CRO across its platforms like Truth Social and Truth+. Users will be able to redeem platform rewards through Crypto.com’s wallet infrastructure for CRO, including payments or subscriptions. CRO holdings will be secured in Crypto.com’s custody and staked to generate an ongoing yield.
