Trump Media Expands Cronos Treasury with $105M Purchase

Trump Media and Technology Group (TMTG) recently announced it has expanded its Cronos Treasury after making a deal with Crypto.com. The company bought 684.4 million Cronos (CRO) tokens, worth about $105 million. The transaction was executed through a mix of stock and cash. According to a press release, these tokens represent around 2% of CRO’s circulating supply. Trump Media Secures Cronos Treasury with Crypto.com Partnership The newly established Cronos Treasury will be safeguarded using Crypto.com’s institutional-grade custody platform. This platform is to ensure secure storage and allow Trump Media to earn additional revenue through staking. This is an important step in the company’s plan to grow in digital assets. Devin Nunes, CEO and Chairman of Trump Media, said the purchase is a smart move to expand the company’s presence in financial technology. He pointed out that CRO can be used for payments and quick transactions. Also, Kris Marszalek, CEO of Crypto.com, said the partnership will show how CRO can be used in real life, supported by safe storage and staking features. This collaboration shows that both companies want to bring blockchain technology into everyday use. Blockchain Rewards on Truth Social and Truth.Fi The move goes beyond finance. Trump Media has also formed a strategic partnership with Crypto.com to bring CRO into its own platforms, Truth Social and Truth.Fi. The tokens will be part of a rewards system using Crypto.com’s wallet technology. This is an important step in bringing blockchain-based rewards to social and subscription services. This latest acquisition comes after the company bought $1 billion worth of Cronos , making it a major supporter of CRO. To manage this, Trump Media created Trump Media Group CRO Strategy, Inc., a special unit focused on the Cronos Treasury. This unit is looking to merge with Yorkville Acquisition Corp, a Nasdaq-listed SPAC. If the merger happens, the new company would focus only on Cronos, giving Trump Media more influence in the blockchain world. Cronos is known for handling many transactions and connecting with other networks. By supporting it, Trump Media gives one of its biggest endorsements to the network so far. Expanding Digital Asset Holdings The CRO purchase is part of Trump Media’s bigger plan to grow its digital assets. The company has also increased its Bitcoin holdings, now worth over $2 billion. These moves show the company’s long-term interest in cryptocurrency and blockchain. The news quickly affected CRO’s price. The digital token started at about $0.268 and rose to $0.274 within hours, a gain of more than 2%. This early market reaction shows confidence in Trump Media’s strategy and sets the stage for more connections between media, fintech, and blockchain. The post Trump Media Expands Cronos Treasury with $105M Purchase appeared first on TheCoinrise.com .