Trump Media & Crypto.com's New Partnership Brings CRO Token Into Focus

Trump Media has announced a collaboration with Crypto.com, a platform specializing in digital asset trading, to establish a new entity that will manage CRO tokens and deepen the president's ties with the industry.

Trump Media & Technology Group and Crypto.com launched a new venture that utilizes a treasury-style approach to accumulate CRO, the native token of the cryptocurrency platform.

Numerous firms have adopted a comparable approach by pursuing listings on U.S. exchanges via agreements with Special Purpose Acquisition Companies, or SPACs, in response to the market's premium valuation of Bitcoin.

However, investor focus now shifts to the CRO token.

While top digital assets in the broader crypto bull market have lost some momentum after hitting all-time highs, the CRO token has gained over 146% to $0.36 over the past week.

With the help of the Crypto.com digital wallet and the utility token Cronos (CRO), Trump Media is set to release a rewards system on the Truth+ and Truth Social platforms.

Built for speed, scalability, and easy communication across networks, Cronos is a high-performance, interoperable blockchain.

As a result, it is positioned to provide a strong basis for the American digital economy's future.

Without the costs and congestion of traditional networks, this allows for the quick and cheap deployment of smart contracts while guaranteeing their seamless integration with leading blockchain ecosystems.

This paves the way for the widespread use of decentralized applications in public infrastructure, finance, and commerce.

Cronos shows it can be trusted and perform well for important systems by using a proof-of-authority consensus method, a strong group of validators, and excellent security features.

While Cronos's market valuation has jumped to $11.9 billion from $6.8 billion last week, it represents only a small portion of the $3.9 trillion total market capitalization of the global cryptocurrency sector.

Details of the New Deal

In this collaboration with Crypto.com, Trump Media is set to acquire approximately $105 million in CRO tokens, while Crypto.com will invest $50 million in Trump Media stock.

Trump Media reports that the business will raise almost $6.4 billion to buy CRO tokens. To kick things off, Crypto.com, a Singaporean digital asset market, will supply one billion CRO tokens.

A $5 billion line of credit will be extended to the new corporation by an affiliate of a financial institution in New Jersey, Yorkville Advisors.

Trump Media confirmed its decision to incorporate CRO into its diverse digital platforms, notably including Truth Social.

Shares of Trump Media and CRO surged after the announcement.

Trump's Wealth Surge Linked To Crypto Ventures

A few weeks ago, holders of digital tokens from World Liberty Financial—a crypto venture linked with the Trump family—made a decision, and Trump Media has now followed suit.

These token holders decided to open the market to trade, which may lead to more sales and purchases and ultimately increase the president's wealth.

The cryptocurrency sector has seen significant growth in the United States this year, supported in part by favorable regulatory conditions established during the Trump administration.

On Tuesday, digital asset manager Canary Capital submitted a proposal to launch an exchange-traded fund that will track the price movements of the $TRUMP meme coin, a cryptocurrency whose value is closely linked to Trump.

Donald Trump Jr. joined the advisory board of crypto prediction platform Polymarket and invested in the company through his private equity firm, 1789 Capital, according to news disclosed on Tuesday.

Trump is an advisor on Polymarket's rival, Kalshi.

In under a year, the Trump family has explored a wide array of opportunities within the cryptocurrency landscape, from memecoins to bitcoin mining.

President Trump’s engagement in his family's growing cryptocurrency ventures has raised significant concerns regarding potential conflicts of interest, with detractors criticizing it as an unprecedented merging of his business pursuits and government responsibilities.

Elsewhere

Blockcast

Yat Siu on the Future of Crypto: AI, Blockchain, and Creativity

In this episode, the chairman and co-founder of Animoca Brands discusses the implications of AI on jobs, the importance of nurturing creativity in education, and the launch of Moca Network, a new blockchain initiative aimed at enhancing digital identity and reputation. Yat emphasized the need for a shift in how we view data ownership and privacy, as well as the role of speculation in the crypto space.

Access the episode from your preferred podcast platform here .

Blockcast is hosted by Head of APAC at Ledger, Takatoshi Shibayama . Previous episodes of Blockcast can be found here , with guests like Kapil Duman (Quranium), Eric van Miltenburg (Ripple), Jeremy Tan (Singapore parliament candidate), Hassan Ahmed (Coinbase), Sota Watanabe (Startale), Nic Young (Oh), Jacob Phillips (Lombard), Chris Yu (SignalPlus), Kathy Zhu (Mezo), Samar Sen (Talos), Jason Choi (Tangent), , Mark Rydon (Aethir), Luca Prosperi (M^0), Charles Hoskinson (Cardano), and Yat Siu (Animoca Brands) on our recent shows.