Trump Media and Technology Group (DJT)The father of social truth linked to the president of the United States, Donal Trump, closed a purchase agreement with Crypto Exchange Crypto.com that gives him 684.4 million of Cronos Tokens
The transaction of $ 105 million, divided between cash and shares, amounts to approximately 2% of the circulating supply of the Token, companies said in a press release on Friday. Both the actions of Cro and Trump Media will remain locked during an established period, they added.
The actions of DJT and Cro changed little in Friday’s trade.
The agreement is part of a broader association between the two companies that will lead Cro to social truth and truth+ as a characteristic of rewards. Trump Media said he will store tokens with the Crypto.com custody service and support them to generate additional income.
The CEO of Crypto.com, Kris Marszalek, said the measure marks the beginning of the broader adoption efforts for Cro, while Trump’s president of the media, Devin Nunes, described the Token as a “versatile utility” tool for payments and transfers.
The agreement follows the launch of Trump Media of a separate entity, Trump Media Group Cro Strategy, which is preparing to acquire up to 19% of the circulating cro offer through a planned SPAC fusion. This company aims to create a digital asset treasure focused on stack tokens cro.
Trump Media is more deeply pushing financial and digital assets, revealing plans to implement multiple ETFs focused on cryptocurrencies and administered investment products. The firm also had $ 2 billion in Bitcoin according to your Q2 report.
Read more: Trump Media, Crypto.com to build $ 6.4b Cro Treasury Firm, Cro Salta 25%
