Trump Media & Technology Group (DJT) just locked in one of the largest corporate bets yet on Cronos (CRO).
The company closed its previously announced purchase with Crypto.com, acquiring 684.4 million CRO at around $0.15 per token. That’s worth $178 million today and represents about 2% of circulating supply. The deal was structured 50% in stock and 50% in cash, with both CRO and DJT shares subject to a lockup.
This move is part of a bigger play: a newly formed entity, Trump Media Group CRO Strategy, Inc., tied to Yorkville Acquisition Corp., plans to acquire up to 19% of circulating CRO supply, potentially creating the largest CRO-focused treasury firm to date.
On the utility side, CRO will be integrated into Truth Social and Truth+ as a rewards token, leveraging Crypto.com’s wallet infrastructure. Custody will be handled by Crypto.com’s institutional-grade setup, with CRO also generating staking yield.
DJT CEO Devin Nunes framed CRO as a “superior form of safe, fast payment,” while Crypto.com CEO Kris Marszalek said this was “the first of many steps to driving utility and value for CRO.”
Markets didn’t exactly cheer the news: DJT shares dipped 1.5% to $16.51, while CRO fell 1.5% to $0.26 (market cap $8.8B). Still, if the $6.4B credit line drawdowns come through, Trump Media could end up anchoring one of the most concentrated CRO treasuries in existence.
