Trump Media and Technology Group (DJT), tied to former U.S. president Donald Trump, is making a bold move into digital assets. The company has inked a deal with Yorkville Acquisition Corp and Cryptocurrency.com to form a new cryptocurrency treasury business that will focus on CRO token accumulation.
The new venture will operate under the name Trump Media Group CRO Strategy and trade under the ticker symbol MCGA. Trump Media will hold a majority stake, while Yorkville and Cryptocurrency.com will also retain ownership positions.
The Structure of the Deal
According to Tuesday’s filing:
- Cryptocurrency.com will transfer 684 million CRO tokens (valued at ~$105 million) to Trump Media.
- In exchange, it will receive $50 million in cash and 2.8 million Trump Media shares.
- All stock and token allocations will be locked for one year after the deal closes.
Yorkville’s role as a SPAC (special purpose acquisition company) enables the venture to move quickly toward the market. While SPACs offer speed, critics often highlight their lack of transparency compared to traditional IPOs.
Market Reactions
The announcement sparked immediate volatility:
- Trump Media shares surged up to 10% Tuesday morning.
- CRO token rallied 35%, reflecting renewed attention on the exchange-linked cryptocurrency.
Trump Media CEO Devin Nunes commented:
“We continue to be bullish on cryptocurrency. More companies are building digital asset treasuries to prepare for the future, with assets they expect to gain wider use.”
Cryptocurrency.com CEO Kris Marszalek described the project’s magnitude as “unusually large”, noting that with a $5 billion credit line, the new company would control more liquidity than CRO’s entire current market value of $6.6 billion.
CRO’s Role Expands
Under the deal, CRO will also be adopted as the platform token for Trump Media’s Truth Social. That integration ties Trump’s media ecosystem directly into the token’s utility.
The scale is significant: once completed, the new venture will control roughly 20% of all CRO tokens, a far greater concentration than MicroStrategy’s well-known 3% share of Bitcoin.
Broader Context
The move reflects a growing trend of public companies and SPAC-backed ventures adopting crypto treasury strategies, echoing Michael Saylor’s MicroStrategy, which began acquiring Bitcoin in 2020.
Key points:
- Treasury firms often raise debt and equity to acquire large token holdings.
- Their shares can sometimes trade above the value of the underlying tokens, sparking debate in financial markets.
- Critics warn that exchange-linked tokens, like CRO, carry concentration and collateral risks—a lesson underscored by the collapse of FTX in 2022, when its FTT token was misused as collateral.
Political and Strategic Angle
This isn’t Trump Media’s first crypto collaboration with Cryptocurrency.com—the two previously partnered on cryptocurrency-related ETFs. The deal also follows reports that Foris DAX Inc., Cryptocurrency.com’s parent company, donated $10 million to MAGA Inc., a Trump-affiliated super PAC, earlier this year.
The CRO treasury strategy underscores both the political and financial ties connecting Trump’s media empire to the digital asset economy, furthering Trump’s pledge to make the U.S. the “cryptocurrency capital of the planet.”
