Trump Media and Technology Group has closed a deal with Crypto.com to buy 684.4 million Cronos (CRO) tokens — a transaction worth about $105 million. The purchase, paid in a mix of cash and stock, represents roughly 2% of CRO’s circulating supply and will be added to Trump Media’s balance sheet.
As part of the agreement, the company will integrate CRO as a rewards feature across Truth Social and Truth+. Trump Media said it will store the tokens with Crypto.com’s custody service and stake them to generate additional income. Both the CRO tokens and Trump Media shares will remain subject to lockups for a set period.
The acquisition is part of a broader crypto push. Trump Media recently launched a separate vehicle, Trump Media Group CRO Strategy, which aims to acquire up to 19% of CRO through a planned SPAC merger. The company also disclosed a roughly $2 billion bitcoin treasury in its latest quarterly report and has signaled plans to roll out crypto-focused ETFs and managed products.
Crypto.com CEO Kris Marszalek framed the deal as the start of wider CRO adoption, while Trump Media chair Devin Nunes described the token as a “versatile utility” for payments and transfers. Market reaction was muted: both DJT shares and CRO prices were little changed immediately after the announcement.
This transaction illustrates how public firms are using token holdings for product incentives and treasury diversification. Why it matters: dedicating treasury capital to a single token can influence market dynamics and concentrate risk. Investors should weigh price volatility, token lockup terms, staking uncertainties and possible regulatory scrutiny when evaluating corporate crypto allocations.
Source: CoinDesk. Read the original coverage for full details.