Cronos (CRO) Price: Trump Media Completes $105 Million Token Purchase Deal

TLDR

• Trump Media acquired 684.4 million CRO tokens worth $105 million in a cash-and-stock deal with Crypto.com
• The purchase represents about 2% of CRO’s total circulating supply
• CRO will be integrated into Truth Social and Truth+ platforms as reward features
• Tokens will be held in Crypto.com custody with staking to generate additional revenue
• CRO price currently trades at $0.2652, down 0.59% in the last 24 hours

Trump Media and Technology Group closed its acquisition of 684.4 million Cronos tokens on September 5. The deal valued the purchase at $105 million.

The transaction was split evenly between cash and Trump Media stock. This structure gives Crypto.com an equity position in the Trump Media company.

The token purchase represents approximately 2% of CRO’s total circulating supply. Both companies confirmed the deal through a joint press release on Friday.

Trump Media CEO and Chairman Devin Nunes praised the agreement. He called CRO a “versatile utility token” for payments and money transfers.

Crypto.com CEO Kris Marszalek described the deal as the start of wider adoption efforts for CRO. The partnership extends beyond the token purchase.

Integration Plans

CRO tokens will be integrated into Truth Social and Truth+ platforms as reward features. This marks Trump Media’s first major crypto integration effort.

The company plans to store the tokens using Crypto.com’s custody service. The tokens will be staked to generate additional income for Trump Media.

Both CRO tokens and Trump Media shares remain locked up for a set period. The companies did not specify the exact timeframe for this restriction.

Cronos CRO Price Prediction

CRO price trades at $0.2652 as of September 6. The token declined 0.59% in the past 24 hours following the announcement.

Trump Media stock showed little change in Friday trading. CRO also remained relatively stable despite the large purchase.

Technical analysis shows CRO consolidating after recent upward movement. The token is testing the 23.6% Fibonacci retracement level at $0.266.

This level serves as the first major support zone. If selling pressure continues, analysts watch for support at $0.210 and $0.173.

Broader Strategy

The deal connects to Trump Media’s larger crypto expansion plans. The company launched Trump Media Group CRO Strategy as a separate entity.

This new venture prepares for a planned SPAC merger. The goal involves acquiring up to 19% of CRO’s circulating supply.

Trump Media reported holding $2 billion in bitcoin in its Q2 financial report. The company also plans to launch multiple crypto-focused ETFs and managed investment products.

The partnership represents one of the largest institutional CRO purchases to date. It follows Trump Media’s push deeper into digital assets and finance.

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