Trump Media & Technology Group and Singapore-based exchange Crypto.com have announced plans to set up a new company that will focus on building a crypto treasury, mainly by accumulating the exchange’s native token Cronos (CRO).
The venture, named Trump Media Group CRO Strategy, will go public through a merger with blank-check firm Yorkville Acquisition Corp and is set to trade on the Nasdaq under the ticker MCGA.
Markets reacted quickly to the news. CRO surged nearly 30% to $0.20, Trump Media shares rose by more than 5%, while Yorkville shares slipped slightly. With a market cap of around $6.8 billion, Cronos remains small compared to the global crypto market worth $3.88 trillion, but the deal signals growing institutional support for the token.
Funding for the project will include $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and a $5 billion credit line from a Yorkville affiliate. Trump Media will also purchase $105 million worth of CRO for its own balance sheet, while Crypto.com will buy $50 million worth of Trump Media stock.
The strategy mirrors the approach of MicroStrategy, which began accumulating Bitcoin in 2020 and has since become one of the largest corporate crypto holders worldwide.
For Donald Trump, whose company also operates the social platform Truth Social, this partnership deepens ties with the global crypto industry — with Singapore’s Crypto.com at the center of the deal.
Sources:
- Reuters: Trump Media, Crypto.com to launch crypto treasury firm via SPAC deal
- http://ChannelNewsAsia: Trump Media, Crypto.com to launch crypto treasury firm via SPAC deal
– A historic day for $CRO. Trump Media Group CRO Strategy announced a $6.42b U.S. Dollar treasury play. See the press release for more info on the proposed Business Combination and important info about $YORK, $YORKW and $YORKU. Here’s what you need to know:
– A definitive… pic.twitter.com/kgMC1GEVHn— Kris | Crypto.com (@kris) August 26, 2025
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