Trump Media & Technology Group, backed by President Donald Trump, is partnering with Crypto.com to establish a $6.4 billion CRO token treasury. CRO is the native token of the Cronos blockchain, developed by Crypto.com. 

The new venture, named Trump Media Group CRO Strategy, will be funded primarily through a $5 billion equity line of credit from the blank-check company Yorkville, alongside cash and token holdings.

The other sources of funding include $1 billion worth of CRO tokens, $200 million in cash, and $220 million in warrants.

Trump Media plans to acquire $105 million in CRO tokens, while Crypto.com will purchase $50 million worth of Trump Media equity shares. Both token and equity transactions are subject to a lock-up period.

This story is an excerpt from the Unchained Daily newsletter.

The new entity will list on the Nasdaq under the new ticker MCGA and effectively become one of the largest digital asset treasuries by market cap ratio ever established.

“Now imagine how great that’d be for CRO had you not made the god awful decision to remint 70 billion tokens you already burned,” said pseudonymous crypto trader JamezSpeaks.eth on X.

Earlier this year, Crypto.com pushed through a controversial vote to remint 70 billion CRO tokens that were taken out of circulation back in 2021.

“While all of this is great, currently, what’s to protect from a total sell off once the presidency ends? Or another President comes in and undoes anything Trump has done for crypto?” added JamezSpeaks.eth.