Trump Media & Technology Group has joined forces with Crypto.com to establish a new venture focused on accumulating the exchange’s native token, cronos (CRO), marking one of the clearest moves yet tying U.S. President Donald Trump’s media empire to the cryptocurrency industry.
The entity, named Trump Media Group CRO Strategy, will list on Nasdaq under the ticker “MCGA” following a merger with blank-check firm Yorkville Acquisition Corp. The deal positions the company to pursue a treasury-style playbook, echoing moves made by bitcoin-heavy corporate treasuries in recent years.
Cronos Price Jumps on Announcement
News of the partnership sent CRO surging nearly 30% to $0.20, according to CoinGecko data. Trump Media’s stock also gained 5.2% to $18.11, while Yorkville shares slipped 2.4%. With a market cap of $6.8 billion, cronos remains small compared to the $3.88 trillion global crypto market but now finds itself at the center of one of the industry’s boldest new bets.
Massive Funding Package
The venture will launch with a funding package that includes $1 billion worth of CRO tokens, $200 million in cash, $220 million in warrants, and access to a $5 billion equity line of credit from a Yorkville affiliate. Additionally, Trump Media has committed to directly purchasing $105 million worth of cronos for its own balance sheet, while Crypto.com will invest $50 million into Trump Media’s common stock.
Crypto Firms Look to SPACs
The deal mirrors a growing trend of crypto-heavy firms going public via Special Purpose Acquisition Companies (SPACs), a strategy increasingly used to bring digital asset players onto U.S. exchanges. Earlier this year, Cantor Fitzgerald teamed up with Tether and SoftBank to create Cantor Equity Partners, a SPAC-backed firm buying bitcoin directly.
Building on Truth Social’s Expansion
Trump Media, the parent company of Truth Social, has already expanded its ambitions into finance, unveiling plans earlier this year to partner with Crypto.com on exchange-traded funds and products through its Truth.Fi brand. The new CRO-focused venture reinforces the company’s positioning at the crossroads of media, politics, and crypto finance.
Following MicroStrategy’s Playbook
The move draws clear inspiration from companies like MicroStrategy, which transformed its identity by aggressively buying bitcoin beginning in 2020. With over $100 billion in BTC today, MicroStrategy’s stock multiplied five-fold during bitcoin’s record-breaking rally in 2024. Trump Media’s new firm is now looking to replicate that success — this time with cronos as its treasury asset of choice.
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Source: https://coindoo.com/trump-media-just-launched-its-biggest-crypto-bet-ever/