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Trump Media and Crypto.com join forces: CRO token soars 150%

BY Marek Jendral
Cronos rose 150%

Cronos ecosystem has seen a significant shift after Trump Media and Technology Group entered a strategic agreement with the exchange Crypto.com. The goal is to integrate the CRO token and the exchange’s digital wallet into the Truth Social platform. Part of the partnership includes the creation of a standalone entity, Trump Media Group CRO Strategy Inc., which is preparing for a merger with Yorkville Acquisition Corp, according to a report by CoinDesk.

Cronos and new partnership with Trump Media

After the process is completed, the new entity will trade under the ticker MCGA (“Make CRO Great Again”). According to Crypto.com CEO Kris Marszalek, it will become the largest holder of CRO in the world, with nearly 6.4 billion tokens. Their value at the time of announcement was approximately 1 billion dollars.

Marszalek called this move a “historic day for CRO” and emphasized that the project has an initial 200 million dollars available for further token purchases, with total capital potentially reaching up to 420 million dollars. In addition, a 5 billion dollar credit line is ready.

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New features and market impact

According to TradingView data, the CRO token saw a significant surge following the announcement of the partnership between Trump Media and Crypto.com. Its price jumped 150% over the last 3 days, indicating strong investor interest and positive market sentiment. Such a sharp increase highlights the importance of the deal for the Cronos ecosystem.

Rocket growth of Cronos cryptocurrency
Rocket growth of Cronos cryptocurrency. Source: tradingview.com

The deal also includes the creation of a new reward system that will allow users to convert platform loyalty points directly into CRO tokens. Future plans also include expanding features such as subscriptions or discounted services paid in CRO.

Additionally, Trump Media plans to purchase CRO worth 105 million dollars, representing approximately 2% of the total market capitalization of this cryptocurrency. In return, Crypto.com will buy 50 million dollars of Trump Media shares. The held CRO will be stored and staked directly on Crypto.com, generating additional revenue for Trump Media.

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Marek Jendral

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Marek Jendral