Trump Media (DJT), Crypto.com to build $ 6.4b Cro Treasury Firm, Cro Token Salta 25%



Trump Media and Technology Group (DJT) He said he agreed to form a joint business with Crypto.com that he will invest in the Exchange token cro as a treasure asset and will be public combining with a special purpose acquisition vehicle. (SPAC).

As part of the agreement, Trump Media will buy about $ 105 million in CRO, approximately 2% of the total market capitalization of the Token, while Crypto.com will buy $ 50 million in Trump Media shares. Cro increased after the ad, carrying its profit from 24 hours to 25%, according to Coindesk data. Recently it was 22% higher in 19,60 cents. DJT shares increased 3.5% to $ 17.82.

The company will be called Trump Media Group Cro Strategy Inc. and plans to merge with Yorkville Acquisition Corp (York). It will be negotiated under the MCGA ticket, which means “making Cro great,” said the CEO of Crypto.com, Kris Marszalek, in X. The company will become the largest head of the world with around 6,300 million tokens, valued at approximately $ 1 billion at the time of the announcement.

The measure occurs when companies that are quoted in the stock market are jumping to cryptography, buying assets, including bitcoin. and ether (Eth) As central investments and distributing themselves as cryptographic treasury companies, even when their daily operations still depend on industries as varied as pharmaceutical products, software development and online casinos games.

The trend was initiated in 2020 by strategy (Mstr)which now has $ 69 billion in BTC. According to Bitcintrease.net, more than 3.6 million BTC valued at $ 396 billion are carried out in the bonus of 174 public companies and 60 private companies.

Several companies are also buying Altcoins, with billions of dollars spending to buy tokens like Solana and ETH ether).

Marszalek described the initiative as “a historic day for CRO”, pointing to $ 200 million in cash for more tokens purchases, in addition to additional commitments that could carry total funds available to around $ 420 million, together with a credit line of $ 5 billion.

“This presents a differentiated opportunity for investors in the digital asset treasure space,” he said, adding that the mission of the CRO strategy of the Trump media group is to maximize what he called a “steering wheel effect”, which implies raising funds to acquire more cro.

The agreement includes the creation of a new rewards system that will allow users to convert the “gems” of the CRO tokens platform, with additional plans to enable subscription payments and discount services using CRO.

Trump Media said that custody and will bet its CRO participations with Crypto.com to obtain additional income.

Despite a broader market sale during the past week, CRO had a good performance before the news that was published, increasing 16 cents of 14 cents. The negotiation volume increased by 700% in the last 24 hours to $ 310 million, according to CoinmarketCap.

UPDATE (August 26, 14:10 UTC): Add the joint company in the first paragraph, background on cryptographic treasury companies that begin in the fourth cro price action prior to the announcement.
UPDATE (August 26, 15:45 UTC): Change the lead photo.



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