Trump Media partners with Crypto.com to establish a $6.4 billion Cronos treasury fund

The Trump Media and Technology Group of former President #DonaldTrump has just announced plans to establish a massive cryptocurrency treasury fund worth $6.4 billion in partnership with the exchange Crypto.com. This fund will focus on Cronos (CRO), the official coin of Crypto.com.

Details about the treasury fund

The new treasury fund, named Trump Media Group CRO Strategy, Inc., will be established with $1 billion in CRO tokens, $200 million in cash, $220 million in the form of warrants, and a $5 billion credit line from Yorkville. With 6.3 billion CRO tokens held, this fund will account for approximately 19% of the total supply of CRO.

Trump Media will purchase $105 million #CRO , while Crypto.com will buy $50 million in common stock of Trump Media. These CRO amounts will be staked on the Crypto.com platform to generate revenue.

Integration with Truth Social

Additionally, Trump Media will also integrate CRO into its platforms such as the social network Truth Social and the online video service Truth+. Users can earn "gems" and convert them to CRO, and in the future, they may be able to pay for subscription packages using CRO.

This move indicates that Donald Trump and his companies are increasingly engaging in the crypto space, after purchasing $2 billion in Bitcoin in July. This is the latest example of the trend of public companies building cryptocurrency treasuries, following the success of companies like Strategy (formerly MicroStrategy). #anh_ba_cong