Trump Media Group has reached a deal with Yorkville Acquisition Corp., a Nasdaq-listed blank check company, to form a new entity focused on acquiring and holding Cronos’s CRO token, according to an Aug. 26 statement.
The proposed company, Trump Media Group CRO Strategy, will be capitalized with around $6.42 billion, which is a mix of cash, warrants, and digital assets.
At closing, ownership will be shared between Yorkville, Trump Media, and Crypto.com, which are entering as founding partners. The company intends to list on Nasdaq under the ticker “MCGA.”
Notably, all founding shareholders have agreed to a one-year lock-up on their holdings, followed by a three-year gradual release schedule.
According to CryptoSlate’s data, CRO’s value jumped more than 21% to $0.19452 as of press time.
CRO Treasury
Under the agreement, the new treasury will receive roughly $1 billion in CRO, equal to about 19% of the token’s market capitalization at the time of announcement.
In addition, partners plan to contribute $200 million in cash and another $220 million through warrant exercises. Yorkville has also arranged a $5 billion equity line of credit via an affiliate, providing a mechanism for further token purchases.
The company plans to stake its CRO assets to generate recurring revenue. According to executives, the goal is to create a “flywheel effect.” This means that as more CRO is acquired and staked, the token’s value could rise, enabling further fundraising and deeper integration across financial services.
Speaking on the deal, Kris Marszalek, Co-Founder and CEO of Crypto.com, said:
“The sheer size and structure of this project will encompass more than the entire current market capitalization of CRO, with the additional commitments of over $400 million in cash and a further $5 billion line of credit facility to acquire additional CRO.”
Integration within Trump Media
This partnership expands the link between Trump Media and the Cronos ecosystem.
Truth Social, Trump Media’s social media platform, is expected to adopt CRO as its native token. Trump Media has separately disclosed $105 million worth of CRO purchases, while Crypto.com acquired $50 million of Trump Media shares.
These moves bring the group’s combined CRO exposure close to 7 billion tokens.
Devin Nunes, the Chairman and CEO of Trump Media & Technology Group, said the deal proves that the firm continues to be “bullish on cryptocurrency.”
He added:
“Financial markets are becoming increasingly digital every day, and companies of all sizes and sectors are strategically planning for the future by establishing digital asset treasuries anchored by assets that have created a comprehensive value proposition and are poised for even greater utility.”