Trump Media Closes $105 Million Crypto Deal with Crypto.com

Trump Media and Technology Group Corp., the operator of Truth Social, closed its purchase agreement with Singapore-based crypto exchange Crypto.com on September 5, acquiring 684.4 million Cronos (CRO) tokens at approximately 15.3 cents per token. The deal, valued at roughly $105 million, was structured as a 50% stock and 50% cash exchange.

The acquired tokens represent approximately 2% of the current circulating CRO supply, with Trump Media securing the assets through Crypto.com's institutional custody service to enable staking for additional revenue generation. Both the Trump Media shares and CRO tokens exchanged in the transaction are subject to lockup periods.

Trump Media CEO and Chairman Devin Nunes said the company was pleased to close the agreement and begin fulfilling its strategic partnership with Crypto.com. The executive expressed confidence that CRO has tremendous potential as a versatile utility token and superior form of payment and money transfer.

Crypto.com Co-Founder and CEO Kris Marszalek described the deal as the first of many steps to drive utility and value for CRO and the Cronos blockchain. The executive said the company was proud to provide support to Trump Media with its custody solution and generate additional value through CRO's staking model.

The partnership includes a mutual cooperation agreement enabling CRO token integration into Truth Social and Truth+ platforms as part of a rewards system using Crypto.com's digital wallet infrastructure. The collaboration follows Trump Media's separate announcement of Trump Media Group CRO Strategy Inc., which entered a definitive agreement for a business combination with Yorkville Acquisition Corp to form a digital asset treasury company focused on CRO acquisition.

Trump Media, based in Sarasota, Florida, operates Truth Social as a social media platform, Truth+ streaming service, and the upcoming Truth.Fi financial services brand. The company positions itself as combating Big Tech censorship and promoting free speech online.

Crypto.com, founded in 2016, serves millions of users globally and has positioned itself as an industry leader in regulatory compliance and security. The exchange has been a long-time supporter of the open-source Cronos blockchain project, incorporating CRO tokens into various customer offerings.

The Cronos blockchain is designed as a high-performance, interoperable network focused on speed, scalability, and connectivity between different blockchain ecosystems. The platform uses proof-of-authority consensus and aims to enable low-cost smart contract deployment for decentralized applications in finance and commerce.