Trump Media and Crypto.com Form $6.42B Partnership to Create CRO Treasury Company

Trump Media and Technology Group Inc. has partnered with Crypto.com to create the first publicly traded CRO treasury company, valued at $6.42 billion. The joint venture will trade under the ticker MCGA, representing 'Make CRO Great Again.'

Key details of the partnership include:

Trump Media will acquire approximately $105 million worth of Cronos ($CRO).
Crypto.com will invest $50 million in Trump Media stock.
The new entity plans to purchase 6.3 billion tokens, constituting 19% of the total supply.
Yorkville is providing an additional $5 billion equity line of credit.

This collaboration reflects a growing trend of major companies incorporating digital assets into their financial strategies. Following the announcement, Cronos' price surged 135%, reaching a yearly high of $0.376961.

Trump Media's move aligns with its previous announcement to buy $2 billion in Bitcoin, indicating a strategic shift towards digital assets.