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Trump Media Closes on Purchase of $105M in Cronos Tokens in Crypto.com Deal

Trump Media and Technology Group (DJT), the parent of Truth Social linked to U.S. President Donal Trump, closed a purchase agreement with crypto exchange Crypto.com that gives it 684.4 million Cronos (CRO) tokens.The $105 million transaction, split between cash and stock, amounts to about 2% of the circulating supply of the token, the firms said in a Friday press release. Both CRO and Trump Media’s shares will remain locked up for a set period, they added.DJT stock and CRO were both little-changed in Friday trade.The agreement is part of a broader partnership between the two companies that will bring CRO into Truth Social and Truth+ as a rewards feature. Trump Media said it will store the tokens with Crypto.com’s custody…

Source: www.coindesk.com — Read the full article
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