Trump Media & Technology Group said it will team with Crypto.com and blank-check firm Yorkville Acquisition Corp. to create Trump Media Group CRO Strategy, Inc., a publicly traded vehicle designed to buy and hold Cronos (CRO), the native token of Crypto.com’s blockchain. The new company will be taken public through a merger with Yorkville, giving it access to capital markets under the planned ticker “MCGA.” The partners expect the entity to control up to $6.42 billion of assets at launch, comprising roughly $1 billion in CRO tokens—about 6.3 billion coins, or 19% of the token’s outstanding supply—plus $200 million in cash and $220 million in warrants. Yorkville has also arranged a $5 billion equity line of credit that could be tapped for additional token purchases, a structure the companies say would make the treasury the largest of its kind relative to market capitalization. Separately, Trump Media will buy $105 million of CRO, while Crypto.com will invest $50 million in Trump Media shares. The partners plan to stake their CRO holdings through Crypto.com’s custody platform and to integrate the exchange’s wallet and the token as a rewards and payment option across Trump Media’s Truth Social and Truth+ services. News of the venture sent CRO up about 25% to nearly 20 cents, lifting its market value to roughly $6.8 billion. Trump Media shares rose around 4% in early trading, while Yorkville slipped about 2%. The move deepens President Donald Trump’s corporate bet on digital assets, coming weeks after Trump Media disclosed a separate $2 billion Bitcoin treasury purchase.
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Trump Media, https://t.co/odYCkTfAST plan $6.4 billion CRO token treasury based largely on equity line of credit https://t.co/8kSlXhym7D
President Trump’s media business is launching a new company to buy and hold CRO, a niche token affiliated with https://t.co/gpjdwwlccr https://t.co/VMqfkNkhwI