TMTG acquires 684M CRO tokens as part of Crypto.com partnership

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Trump Media & Technology Group (TMTG) closed a deal with Crypto.com to acquire 684.4 million Cronos (CRO) tokens, marking one of the largest corporate commitments to the digital asset so far.

The transaction, valued at roughly $178 million at current prices, was structured as a 50% stock and 50% cash exchange, according to the Sept. 5 announcement.

TMTG said it paid about $0.15 per token for the assets, which represent roughly 2% of CRO’s circulating supply.

Strategic partnership

The agreement expands a partnership designed to integrate CRO into Trump Media’s Truth Social and Truth+ platforms. The token will be used in a rewards system powered by Crypto.com’s wallet infrastructure.

The company said the arrangement also strengthens plans for its newly formed subsidiary, Trump Media Group CRO Strategy Inc., which has a pending merger with Yorkville Acquisition Corp. to create a...

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