The Trump crypto empire keeps on expanding. On Tuesday, the company that owns the Trump family’s media properties announced it has raised $6.42 billion to acquire a supply of a digital token called Cronos, which is issued by Crypto.com, one of the world’s largest crypto exchanges. The funding includes a $5 billion credit line, an already acquired stash of $1 billion of Crypto.com’s token, $220 million in warrants, and $200 million in cash.
The billions in capital will be injected into a special purpose acquisition company, or SPAC, called Yorkville Acquisition Corp. The new public company will trade under the ticker MCGA, a play on President Donald Trump’s slogan Make American Great Again, or MAGA.
