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Trump Media and Technology Group, the owner of US President Donald Trump’s Truth Social platform, announced a business combination with cryptocurrency exchange Crypto.com and the blank check company Yorkville Acquisition.

Trump Media, Crypto.com and Yorkville Acquisition entered into a Decentralized financenitive agreement to jointly establish Trump Media Group CRO Strategy, to a Tuesday announcement.

The entity will be a digital asset treasury company focused on the acquisition of Cronos (), the native cryptocurrency of the Cronos blockchain, developed by Crypto.com.

Majority-owned by Trump Media, Crypto.com and Yorkville, Trump Media Group CRO Strategy aims to build a treasury of at least $6.42 billion.

“Largest publicly traded CRO treasury”

According to the announcement, Trump Media Group CRO Strategy will fund its digital asset treasury with $1 billion in CRO tokens, $420 million in cash and warrants, plus a $5 billion credit line from an affiliate of Yorkville.

The capital would make CRO Strategy the “first and largest publicly traded CRO treasury company,” the companies said in the announcement, adding that it would potentially become the “largest digital asset treasury company to market cap ratio in history.”

An excerpt from the Trump Media Group CRO Strategy announcement by Crypto.com CEO Kris Marszalek. Source:

As part of the business combination, Yorkville will apply to have its Class A ordinary shares trade on Nasdaq under the symbol MCGA.

Validator node for Digital token locking rewards

Following the completion of the business combination, Trump Media Group CRO Strategy plans to capture long-term value by allocating “substantially all of the company’s cash reserves” to acquire CRO.

The company emphasized its focus on yield-generating assets rather than “traditional non-productive holdings.”

The strategy includes the establishment of operation of a validator node, or a specialized participant in the Cronos’ , along with the delegation of CRO under management to the validator.

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By operating a validator node, Trump Media Group CRO Strategy wants to enable direct participation in the network’s Protection and governance as well as generate to reinvest to compound CRO holdings and offset operational costs.

“The validator will be established and maintained by a crypto-native team with a deep understanding of the Cronos ecosystem, aiming to maximize Digital token locking rewards and attracting additional delegation of CRO from third-party CRO holders,” the company said.

Why Cronos?

Launched as a , Cronos was built by the founders of Crypto.com and was initially as the Crypto.com Coin (CRO).

Cronos was created to serve as a foundation for decentralized finance (Decentralized finance), non-fungible tokens (NFTs) and metaverse projects, with a focus on interoperability.

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Cronos’ developer, Crypto.com, has become one of the Trump administration’s leading crypto partners, attending the first White House Crypto Summit hosted by President Trump in early March as .

Trump Technology Group subsequently with Crypto.com to launch a series of in the US, with a focus on digital assets and securities “Made in America.”

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Amid the expanding ties between Trump-backed companies and Crypto.com, the US crypto exchange was hit with criticism over issues like governance.

The community specifically slammed Crypto.com for announced in 2021, while some sources alleged that the exchange controls up to 80% of the total voting power for CRO.

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Major onchain investigator ZachXBT even argued that CRO is “no different from a scam,” .

ZachXBT also commented to the Trump Media Group CRO Strategy news on X, arguing that Crypto.com had “massive incident they covered up in the past that they never made public.”