Cronos price jumped 22% following the announcement of the Trump Media Group CRO Treasury Strategy announcement, with daily trading volume spiking 850%.
Cronos CRO $0.16 24h volatility: 2.8% Market cap: $5.54 B Vol. 24h: $58.42 M price has shot up by a massive 22% in the last few hours, as the Trump Media and Technology Group entered into a definitive agreement with Crypto.com and Yorkville Acquisition, in order to establish a Cronos (CRO) Treasury Strategy.
This news was enough to send CRO price flying up by 22%, with daily trading volume surging 850% to $400 million.
Trump Media Group Unveils $6.4 Billion CRO Treasury Strategy
Trump Media Group CRO Strategy announced a landmark $6.42 billion treasury initiative centered on CRO, the native token of Cronos Chain, a blockchain developed by crypto exchange Crypto.com.
The recent development comes soon after the Trump family launched the WLFI token earlier this week.
The combined partnership between the three players will trade under the ticker MCGA, “Make CRO Great Again.” Upon completion, Trump Media Group CRO Strategy will become the world’s largest holder of $CRO, owning approximately 6.31 billion tokens, valued at around $1.2 billion, as of the current CRO price of $0.20.
As part of the agreement, CRO will also become the native token of Donald Trump’s social media platform Truth Social.
The treasury plan includes an initial $200 million in cash to acquire more CRO, supplemented by $100 million each from Crypto.com and Trump Media Group via warrants, and $20 million from Yorkville, bringing total immediate liquidity to $420 million.
Yorkville will also provide a $5 billion line of credit to support further acquisitions. This gives the company unprecedented buying power for a digital asset treasury.
Speaking on the development, Devin Nunes, Chairman and CEO of Trump Media & Technology Group said:
“We continue to be bullish on cryptocurrency, and we are excited to be partnering with a leading global cryptocurrency platform and namesake of its industry in Crypto.com and one of the most sophisticated investor groups in Yorkville for this strategic initiative.”
Adopting a Staking Strategy for Additional Revenue
Trump Media Group CRO Strategy plans to hold acquired $CRO indefinitely and stake it to generate additional revenue. Founding partners, including Trump Media & Technology Group, Yorkville, and Crypto.com, have committed to four-year lockups, with a public float of 13% from the original YORK shareholders.
The company’s strategy aims to create a “flywheel effect,” where increased funds drive more CRO purchases.
Thus, it will boost token value and enable further acquisitions. The initiative will position CRO as a central asset in financial services, including payments for AI-driven applications. Market reaction to the announcement has been positive.
next