Trump Media (DJT) Takes $105M in Cronos (CRO) Tokens in Crypto.com Deal
Trump Media and Technology Group (DJT), the parent of Truth Social linked to U.S. President Donal Trump, closed a purchase agreement with crypto exchange Crypto.com that gives it 684.4 million Cronos tokens.
The $105 million transaction, split between cash and stock, amounts to about 2% of the circulating supply of the token, the firms said in a Friday press release. Both CRO and Trump Media’s shares will remain locked up for a set period, they added.
DJT stock and CRO were both little-changed in Friday trade.
The agreement is part of a broader partnership between the two companies that will bring CRO into Truth Social and Truth+ as a rewards feature. Trump Media said it will store the tokens with Crypto.com’s custody…
