TechFlow news, September 5 — Trump Media & Technology Group (Nasdaq, NYSE Texas: DJT) today announced the completion of its acquisition agreement with Crypto.com. Under the agreement, Trump Media will acquire 684.4 million Cronos (CRO) tokens at approximately $0.153 per token, with the transaction structured as 50% stock and 50% cash. The acquired tokens represent about 2% of CRO's current circulating supply. Trump Media will custody these tokens through Crypto.com Custody and may stake them for revenue generation. The collaboration also includes integrating CRO tokens into the Truth Social and Truth+ platforms as part of a rewards system.
Meanwhile, Trump Media's newly formed entity, Trump Media Group CRO Strategy, Inc., has entered into a business combination agreement with Yorkville Acquisition Corp (Nasdaq: YORK). This new entity will focus on the acquisition and management of CRO tokens, further advancing its digital asset strategic initiatives.
