Trump Media and Cryptocom Launch CRO Treasury Venture via SPAC
Trump Media & Technology Group (NASDAQ: DJT), the company behind Donald Trump’s Truth Social platform, has teamed up with Crypto.com to launch a new venture focused on accumulating the exchange’s native token, Cronos (CRO). The initiative mirrors the corporate bitcoin treasury strategy popularized by Michael Saylor’s MicroStrategy (NASDAQ: MSTR).
The new entity, Trump Media Group CRO Strategy, will go public through a merger with Yorkville Acquisition Corp (NASDAQ: YORK) and trade on the Nasdaq under the ticker symbol MCGA.
Following the announcement, Trump Media shares rose 6.6% to $18.36, while CRO surged 29.6% to $0.20, according to CoinGecko. Yorkville’s stock slipped 2.2% to $10.42.
Cronos currently has a market capitalization of $6.8 billion, a fraction of the $3.9 trillion global crypto market cap.
Institutionalizing CRO Through Treasury Strategy
Earlier this year, Trump Media revealed a partnership with Crypto.com to launch exchange-traded products under its Truth.Fi brand. This latest move deepens the collaboration by treating CRO as a core part of its balance sheet.
“By anchoring Truth Social’s rewards economy and corporate reserves in CRO, Trump Media is effectively institutionalizing the token. At the same time, it marks another example of a corporate entity treating a native token as part of its treasury strategy,” said Alice Liu, head of research at CoinMarketCap.
Funding for the venture will include $1 billion in Cronos tokens, $200 million in cash, $220 million in warrants, and a $5 billion equity line of credit from a Yorkville affiliate. Trump Media also committed to buying $105 million in CRO for its own balance sheet, while Crypto.com will purchase $50 million of Trump Media common stock.
The Bitcoin Treasury Boom Expands
The move comes amid a broader trend of companies adopting crypto treasury strategies. Inspired by MicroStrategy’s bitcoin accumulation — now valued at nearly $100 billion — firms are increasingly turning to SPAC mergers and U.S. listings to boost market value.
Deals in recent months include a Cantor Fitzgerald-backed SPAC teaming up with Tether and SoftBank to form a $3.6 billion bitcoin-focused company.
Trump-linked ventures have also been expanding in crypto. Weeks ago, token holders of World Liberty Financial, another Trump family-backed project, voted to make its tokens tradable, potentially increasing the value of Donald Trump’s holdings.
Meanwhile, digital asset manager Canary Capital has filed to launch an exchange-traded fund tracking the $TRUMP meme coin, further cementing the president’s growing association with the digital asset market.
Trump Jr. Joins Polymarket Advisory Board
In a separate development, investment firm 1789 Capital — co-founded by former Bank of America executive Omeed Malik and including Donald Trump Jr. as a partner — announced an investment in predictions platform Polymarket. As part of the deal, Trump Jr. will join Polymarket’s advisory board.
