MAKING CRYPTO GREAT AGAIN: Trump Media Group and Crypto.com launched a crypto venture with Trump Media investing $105 million in CRO tokens. The news sent CRO's price soaring 25 percent. Trump Media and Technology Group (DJT) is diving headfirst into the cryptocurrency market, announcing a joint venture with Crypto.com that will see it become a major holder of the exchange’s CRO token. The new entity, boldly named “Trump Media Group CRO Strategy Inc.” and set to trade under the ticker MCGA – a clear nod to “Make CRO Great Again” – immediately sent CRO’s price soaring by 25%. Under the agreement, Trump Media will invest approximately $105 million into CRO, representing about 2% of the token’s total market capitalization. In a reciprocal move, Crypto.com will acquire $50 million in Trump Media stock. This venture plans to go public by merging with Yorkville Acquisition Corp, positioning itself as the world’s largest holder of CRO, with an initial treasury of roughly 6.3 billion tokens valued at approximately $1 billion. This strategic move aligns Trump Media with a growing trend among publicly traded companies, which are increasingly diversifying their balance sheets with digital assets like Bitcoin and Ether. Following the path blazed by firms such as MicroStrategy, which now holds billions in BTC, this deal signals a significant mainstream embrace of altcoins as treasury assets. Crypto.com CEO Kris Marszalek emphasized the “historic” nature of the initiative, detailing plans for an initial $200 million in cash for further token purchases, potentially rising to $420 million, supported by a $5 billion credit line. The venture aims to create a “flywheel effect” to continually acquire more CRO, integrate it into a new rewards system converting platform “gems,” and enable subscription payments, further solidifying CRO’s utility. Trump Media will also custody and stake its CRO holdings with Crypto.com for additional revenue, underscoring a long-term commitment to the digital asset. The market’s reaction was swift, with CRO’s trading volume surging 700% in 24 hours even after a week of broader market sell-offs. https://x.com/GetTheDailyDirt/status/1960525788748423639 #Crypto #CRO #TrumpMedia #CryptoNewswire #MCGA #CryptoVenture #DigitalAssets #Blockchain #Altcoins #TreasuryStrategy #CryptoTreasury #TruthSocial #YorkvilleAcquisition #SPAC #MakeCROGreatAgain #CROPriceSurge #CryptoNews #Bitcoin #Ether #MicroStrategy #CryptoRewards #Staking #CryptoWallet #DeFi #TokenUtility #CryptoInvestment #TrumpMediaGroup #DJT #Nasdaq #CryptoMarket #BullishCRO #CryptoIntegration #DigitalEconomy #BlockchainInnovation #CryptoTrading #CROTokens #CryptoPartnership #FinancialInnovation #CryptoExchange #MarketSurge #CryptoAdoption #AltcoinTreasury #CryptoFlywheel #CryptoMainstream #TokenAcquisition #CryptoGrowth
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