Trump Media and Crypto.com launch $6bn CRO token treasury vehicle – DL News
- The company will initially hold $1 billion worth of CRO.
- Cronos reissued 70 billion previously burned CRO tokens in March.
- The deal marks the second Trump-linked crypto treasury entity.
Trump Media & Technology Group’s stock price rose 5% on Tuesday, as US President Donald Trump’s media company finalised a $6.42 billion deal to create a digital asset treasury company in partnership with crypto exchange Crypto.com.
The digital asset company called Trump Media Group CRO Strategy will be initially seeded with $1 billion worth of CRO, the native token of Cronos, a Crypto.com blockchain subsidiary. The remainder will mostly be held as an equity line of credit for additional CRO purchases.
The CRO treasury company plans to run a validator node…
