Trump Media Expands In Crypto With New Venture
Truth Social parent Trump Media & Technology Group has partnered with a SPAC called Yorkville Acquisition Corp. and Crypto.com to launch Trump Media Group CRO Strategy, a digital asset treasury company focused on the cryptocurrency CRO.
The deal calls for Trump Media to purchase about $105 million in CRO – the token of the Cronos ecosystem – repping about 2% of the total CRO market cap as of announcement, for its balance sheet. Crypto.com will purchase $50 million in shares of common stock in Trump Media.
President Trump and his family have been enthusiastic supporters of crypto. Donald and Melania Trump launched memecoins early this year – $TRUMP and $MELANIA – although both are well off their highs. His…
