Trump Media and Technology Group (DJT)The parent of truth social attached to US President Donal Trump closed a purchase agreement with Crypto Exchange Crypto.com, giving the 684.4 million CRONOS Tokens.
The $ 105 million transaction, split between cash and shares, amounts to approx. 2% of the circulating supply of the token, companies said in a press release Friday. Both CRO and Trump Media’s shares remain indenting for a fixed period, they added.
DJT Stock and Cro were both a little changed in Friday deals.
The agreement is part of a broader partnership between the two companies that bring CRO to Truth Social and Truth+ as a reward function. Trump Media said it will store tokens with Crypto.com’s custody and spell them to generate additional income.
Crypto.com CEO KRIS MARSZALEK said the move marks the beginning of a wider adoption effort for CRO, while Trump Media Chair Devin Nunes called the token a “versatile tool” tool for payments and transfers.
The deal follows Trump Media’s launch of a separate device, Trump Media Group CRO strategy, preparing to acquire up to 19% of CROS circulating supply through a planned ST -Fusion. This venture aims to create a digital asset box that focuses on stacking the Cro -Tokens.
Trump Media pushes deeper into financial and digital assets and reveals plans to roll out more cryptophocused ETFs and managed investment products. The company also had $ 2 billion in Bitcoin According to his Q2 report.
Read more: Trump Media, Crypto.com to build $ 6.4b Cro Treasury Firm, Cro Springer 25%
