Truth Social’s operator, Trump Media & Technology Group, said on Tuesday that it will establish a new business devoted to purchasing and holding CRO, a specialized token connected to Crypto.com. This is the Trump family’s most recent foray into digital assets.
The company announced that it will create a Group CRO Strategy in collaboration with Crypto.com and Yorkville Acquisition, a special-purpose acquisition firm. In order to purchase CRO tokens, the new organization intends to raise roughly $6.4 billion. A $5 billion line of credit will be provided by a Yorkville Advisors affiliate, and Crypto.com will seed the business with $1 billion in CRO.
Trump Media & Technology Group plans to buy niche crypto
The new business will be jointly owned by Yorkville, Crypto.com, and Trump Media, the three founding partners. Additionally, Trump Media consented to incorporate CRO into Truth Social and other digital platforms. As part of the deal, Trump Media will buy roughly $105 million worth of CRO, and Crypto.com will buy $50 million worth of Trump Media stock. The market moved sharply after the announcement. CRO jumped more than 20% on Tuesday afternoon, while Trump Media shares increased more than 6%.
The deal underscores Trump Media’s broader pivot into crypto markets. The company recently raised more than $2 billion to acquire bitcoin, echoing the corporate strategy of MicroStrategy, the software maker that became one of the largest bitcoin holders. Trump Media has also filed paperwork with the Securities and Exchange Commission to launch multiple crypto ETFs and previously signed a nonbinding agreement with Crypto.com to co-develop such products.
In less than a year, the Trump family has pushed into nearly every corner of the digital asset space, from memecoins to bitcoin mining. Trump’s personal embrace of crypto has fueled this expansion but also triggered criticism from ethics experts, who argue the ventures blur the line between business interests and official duties.
The company’s willingness to make audacious wagers in a market that is prone to volatility is further demonstrated by the CRO-focused initiative. The most recent action highlights Trump’s increasing prominence as one of the leading personalities advancing cryptocurrency’s entry into the American financial mainstream. Trump’s family business now includes digital tokens, real estate, and media.
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