Trump Media closes purchase agreement with Crypto.com for CRO tokens

Trump Media and Technology Group Corp. (NASDAQ: DJT) completed its purchase agreement with Crypto.com to acquire 684.4 million Cronos (CRO) tokens at approximately 15.3 cents per token, the company announced September 5.

The transaction involves a 50% stock, 50% cash exchange structure. The acquired tokens represent approximately 2% of the current circulating CRO supply. Trump Media will store the tokens with Crypto.com Custody and stake them for additional revenue generation. Both the Trump Media shares and CRO tokens involved in the deal are subject to lockup periods.

"Trump Media is pleased to close this agreement and quickly begin to fulfill our strategic partnership with Crypto.com," said CEO and Chairman Devin Nunes. "We're convinced that CRO has tremendous potential to spread widely as a versatile utility token and a superior form of safe, fast payment and money transfer."

Crypto.com Co-Founder and CEO Kris Marszalek stated, "This is the first of many steps to driving utility and value for CRO and the Cronos blockchain. We are proud to provide support to Trump Media with our best-in-class custody solution and generate additional value through CRO's staking model."

The partnership includes a cooperation agreement enabling CRO token integration into Truth Social and Truth+ platforms as part of a rewards system using Crypto.com's digital wallet infrastructure.

The agreement follows the separate announcement of Trump Media Group CRO Strategy Inc., which entered into a definitive agreement for a business combination with Yorkville Acquisition Corp (NASDAQ: YORK), a special-purpose acquisition company, to form a digital asset treasury company focused on CRO acquisition.

Trump Media operates Truth Social, Truth+ streaming platform, and the Truth.Fi financial services brand. The information is based on a company press release.

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