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Benzinga
Benzinga
Business
Murtuza J Merchant

Trump Media And Crypto.com Form CRO Treasury Company In $105 Million Token Deal

Trump Media Crypto Cronos Yorkville Cryptocom DJT Nasdaq SEC Bitcoin
Bitcoin,Trump

Trump Media & Technology Group Corp. (NASDAQ:DJT) has struck a deal with Crypto.com and Yorkville Acquisition Corp. to establish a cryptocurrency treasury company centered on holding Cronos (CRYPTO: CRO) tokens, according to an SEC filing on Tuesday.

What Happened: Under the agreement, Crypto.com will transfer 684.4 million CRO tokens, valued at roughly $105 million, to Trump Media in exchange for 2.8 million Trump Media shares and $50 million in cash, Bloomberg reported.

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