Trump Media & Technology Group, Yorkville Acquisition Corp., and Crypto.com have announced a definitive agreement to form Trump Media Group CRO Strategy, Inc., a digital asset reserve company. The new entity will focus on acquiring Cronos' native token, CRO, and is expected to be funded with $1 billion in CRO, $200 million in cash, $220 million from mandatory exercise warrants, and a $5 billion equity credit line, totaling $6.42 billion. This makes it the largest publicly traded CRO reserve company.
The business combination will see Trump Media Group CRO Strategies majority-owned by Yorkville, Trump Media, and Crypto.com. The founding partners have committed to a mandatory one-year lockup period for their shares, followed by a phased release over three years, underscoring their long-term commitment to the venture.
Trump Media and Crypto.com Form $6.42 Billion CRO Reserve Company
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