Trump Media & Technology Group Corp. announced on Tuesday that it concluded a contract with Crypto.com and Yorkville Acquisition Corp. Everything to create a company that will buy digital assets. There is plans to invest on CRO blockchain Cronos tokens.
Trump Media Group Cro Strategy Inc., because this company is the fruit of the cooperation of the Trumps with Crypto.com, will be the first large company to have a strategy of investing in CRO tokens. The entity will be listed under the “MCGA” stock symbol, which refers to the election slogan of Donald Trump – Make America Great Again.
According to CEO Crypto.com, Krisa Marshal, this contract will make the Trump Media Group Cro Strategy to become the largest CRO owner in the world from about 6.3 billion tokens worth about USD 1 billion.
In response to the announcement, the CRO rate increased by more than 25%, increasing its value from 16 cents to over 20 cents for token and raising market capitalization to around USD 6.62 billion.
It’s not just about investment
In addition to creating the so -called Tax company, it is also about integrating CRO tokens and infrastructure of the Crypto.com digital portfolio directly with Truth Social and Truth+platforms. As a result, Trump’s social media users will be able to exchange rewards for CRO tokens on the platform. This will be the option of paying subscriptions and other services using their balances CRO.
In addition, the contract also applies to cross investments with a total value of USD 155 million. Trump Media will buy CRO tokens, and Crypto.com acquires Trump Media shares worth USD 50 million. Both companies will jointly promote their platforms, and Trumpów plans to store and stake its CRO tokens via Crypto.com to generate additional revenues in this way.
The Trump’s family follows the way of thinking, which I wrote about in the text about Sharplink: she decided that long -term alternative cryptocurrencies have greater growth potential than Bitcoin. So we can expect more such ads: companies that will strategically invest in altcoins.
