Trump Media partners with Crypto.com in $155 million cross-investment deal

Trump Media & Technology Group Corp. (NASDAQ: DJT) announced a strategic partnership with Crypto.com involving mutual investments totaling $155 million and integration of Cronos cryptocurrency across its platforms.

Under the agreement, Trump Media will purchase approximately $105 million worth of CRO tokens, representing about 2% of the total CRO market capitalization. Crypto.com will purchase $50 million in Trump Media common stock. Both investments are subject to lockup periods.

The partnership includes integrating CRO tokens into Trump Media's Truth Social and Truth+ platforms through a rewards system using Crypto.com's digital wallet infrastructure. Users will be able to convert platform activity rewards into CRO tokens and pay for subscriptions using their CRO balance.

Trump Media operates Truth Social, a social media platform, and Truth+, a streaming service. The company is also developing Truth.Fi, a financial services brand.

"Trump Media is partnering with the namesake of its industry, Crypto.com, to help make Cronos the utility token of choice around the globe," said Trump Media CEO Devin Nunes.

Crypto.com CEO Kris Marszalek stated the integration represents "a historic moment for the Cronos blockchain."

The announcement follows Trump Media's formation of Trump Media Group CRO Strategy, Inc., which entered a definitive business combination agreement with Yorkville Acquisition Corp (NASDAQ: YORK), a special purpose acquisition company, to create a digital asset treasury company focused on CRO acquisition.

Trump Media will secure its CRO holdings with Crypto.com's custody service and stake them for additional revenue generation. The companies plan to co-market their respective platforms and offer promotional benefits to users.

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