- Trump Media partners with Crypto.com to dominate the CRO market.
- CRO surges 34% as Trump Media forms new crypto venture.
- New Nasdaq listing positions Trump Media as CRO market leader.
Trump Media & Technology Group has made a bold move by partnering with Crypto.com and Yorkville Acquisition Corp to launch a new venture focused on the exchange’s native token, Cronos (CRO). The announcement immediately sent shockwaves through the market, with CRO surging nearly 34% to $0.21, outpacing both Bitcoin (BTC) and Ethereum (ETH), which also saw positive movement.
The new company, Trump Media Group CRO Strategy, will trade on Nasdaq as MCGA, or Make Crypto Great Again. Modeled after Michael Saylor’s Strategy approach, the company plans to accumulate a significant amount of CRO tokens to hold about one-fifth of the total supply.
This would establish a monopoly, much beyond what Strategy holds, which is 3% stake in Bitcoin.
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Crypto.com’s Massive Investment and Strategic Impact on CRO’s Future
As part of the deal, Crypto.com will transfer approximately 684 million CRO tokens, valued at $105 million, to Trump Media in exchange for stock and cash. Additionally, Trump Media itself will purchase another $105 million in CRO for its balance sheet. Crypto.com has also committed to investing $50 million in Trump Media stock.
The venture also has an equity line of credit worth 5 billion dollars with Yorkville, further strengthening its financial capability. This access to funds is more than CRO’s total market capitalization, which is currently valued at $7.2 billion.
Crypto.com CEO Kris Marszalek described the move as transformational, which will make CRO relevant and successful in the long-term perspective of the digital currency world. This collaboration has also occurred under the backdrop of President Trump, who has been advocating to make the U.S. the crypto capital of the world.
The government is considering policies that will relax crypto regulations and drive the development of crypto-based financial products.
This transaction increases the financial interconnection of Trump-related organizations with the crypto sphere. In a recent donation, the parent company of Crypto.com donated $10 million to Trump MAGA Inc. super PAC, and the Trump family has also announced several of their own digital tokens.
The partnership indicates the increasing overlap of conventional business practices and the digital currency sector, and the ongoing mainstream adoption of crypto as a legitimate financial asset.
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