Trump Media (DJT) and Technology Group closed its recently announced purchase agreement with Crypto.com. The agreement provides that Trump Media will acquire 684.4 million Cronos (CRO-USD) tokens at a price of approximately 15.3 cents per token as part of a 50% stock, 50% cash exchange with Crypto.com. The tokens represent approximately 2% of the current circulating CRO supply. Trump Media will secure its CRO with Crypto.com Custody, Crypto.com’s institutional-grade custody offering, which will enable Trump Media to stake it for additional revenue generation. The Trump Media shares and CRO tokens exchanged in the deal will both be subject to a lockup period. The agreement is a part of partnership that includes a mutual cooperation agreement, which enables the CRO token to be integrated into the Truth Social and Truth+ platforms as part of a pioneering rewards system using Crypto.com’s digital wallet infrastructure.
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