Trump Media Group has signed an agreement with Yorkville Acquisition Corporation, a blank checking company registered with NASDAQ, to form a new entity focused on the acquisition and retention of Cronos Cro tokens, according to a statement on August 26th.
The proposed company, the Trump Media Group CRO strategy, will be capitalized at approximately $6.42 billion, with a mix of cash, warrants and digital assets.
At the time of the closure, ownership was shared between Yorkville, Trump Media and crypto.com, which have invaded as founding partners. The company plans to list it on Nasdaq under the ticker “MCGA”.
In particular, all founding shareholders agree to a one-year lockup of their holdings, followed by a three-year stage release schedule.
Cryptoslate data shows that CRO value increased by more than 21% at press time to $0.19452.
CroSeasure
Under the contract, the new Treasury Department will receive approximately $1 billion in CRO. This corresponds to approximately 19% of the market capitalization of the token at the time of its announcement.
Additionally, the partners plan to donate $200 million in cash and an additional $220 million through warrant exercises. Yorkville also arranged a $5 billion stock credit line through affiliate marketing, providing a mechanism for purchasing tokens.
The company plans to wager CRO assets to generate recurring revenue. According to executives, the goal is to create a “flywheel effect.” This means that as more CROs are acquired and piled, the value of the tokens may increase, allowing for further funding and deeper integration of the overall financial services.
Speaking about the deal, Kris Marszalek, co-founder and CEO of Crypto.com, said:
“The vast scale and structure of this project will attract additional CROs, with more than $400 million in cash and an additional $5 billion in credit facilities, which will win the additional CROs, more than the CRO’s current market capitalization.”
Integration within Trump Media
The partnership expands the link between Trump Media and the Chronos ecosystem.
Trump Media’s social media platform Truth Social is expected to adopt CRO as its native token. Trump Media has individually disclosed CRO purchases worth $105 million, while Crypto.com has acquired $50 million in Trump Media shares.
These moves bring the group’s total CRO exposure to 7 billion tokens.
Devin Nunes, chairman and CEO of Trump Media & Technology Group, said the deal proves the company remains “busy in cryptocurrency.”
He added:
“Every day, financial markets are becoming digital, and businesses of all sizes and sectors are strategically planning their future by creating comprehensive value propositions and establishing a digital asset treasury centre on assets poised for even greater utility.”
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