PANews August 26 news, according to Blockworks, Trump Media Technology Group (TMTG) announced a strategic partnership with Crypto.com through a parallel cooperation and purchase agreement. As part of the deal, Trump Media will adopt Crypto.com's wallet system to support an updated in-app rewards program. Users can exchange the 'gems' they earn for tokens linked to Crypto.com, Cronos (CRO), and use their CRO balance to pay for subscription fees. Opening a Crypto.com account also allows for free or discounted subscriptions to Truth+. Trump Media subscribed to approximately $105 million worth of CRO, equivalent to about 685 million tokens, and will be hosted and staked through Crypto.com. In return, Crypto.com invested $50 million to purchase common stock in Trump Media. Both positions have lock-up periods.
Earlier today, it was reported that Trump Media and Technology Group will establish a new company to deploy a CRO treasury strategy, expecting total funding of $6.42 billion; Trump Media will launch a rewards system on the TRUTH SOCIAL and TRUTH+ platforms, using CRO as a utility token.
