Trump Media partners with Crypto.com, acquires $105M in CRO tokens
In a deal with Crypto.com, Trump Media purchased 684.4 million Cronos tokens.
- Trump Media acquired 684.4 million in Crypto.com’s Cronos (CRO) tokens
- The firm used its stocks to fund half of the $105 million deal, making Crypto.com its shareholder
- The deal is part of a broader partnership, including CRO integration in Truth Social and Truth+
The Trump family’s largest business has closed a major deal with one of the biggest crypto exchanges. On Friday, September 5, Trump Media and Technology Group announced that it recently closed a purchase deal with Crypto.com.
The media company, which also operates the social media platform Truth Social, will buy 684.4 million Cronos (CRO) tokens. The deal, worth about $105 million, was structured as a 50% stock and 50% cash exchange. This means that Crypto.com will also become an investor in Trump Media.
Trump Media eyes CRO token rewards
The sale was part of a broader partnership agreement between the two companies. Namely, the agreement also enables the integration of the CRO token across Truth Social and the streaming platform Truth+. According to the announcement, Trump Media plans to integrate CRO rewards into these platforms.
This isn’t the first news of a Trump Media partnership with Crypto.com. On August 26, the company announced a CRO treasury strategy, with funding to secure up to $6.4 billion worth of tokens.
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