Trump Media Finalizes $105 Million Purchase of 684.4 Million Cronos Tokens
Trump Media and Technology Group (DJT) has signed a purchase agreement with Crypto.com for 684.4 million Cronos (CRO) tokens, valued at $105 million. Key details include:
- The transaction comprises cash and stock, representing about 2% of CRO's circulating supply.
- Both CRO and DJT shares will be locked for a specified duration.
- This partnership integrates CRO into Truth Social and Truth+ as a rewards feature.
- Tokens will be stored with Crypto.com's custody service and staked for additional income.
- Trump Media aims to enhance its financial offerings, including crypto-focused ETFs and managed investment products.
Additionally, Trump Media holds $2 billion in bitcoin (BTC) as per its latest financial report.