FX.co ★ Trump Media acquires 684 million CRO tokens in profit-driven crypto move

The world of cryptocurrency continues to see interesting and, above all, profitable developments! Trump Media & Technology Group Corp. has completed its previously announced acquisition of Cronos (CRO) tokens. This transaction is expected to bring additional income to the family of the American president.

To recap, the company backed by US President Donald Trump acquired 684.4 million CRO tokens at $0.15 each. The deal, conducted with Crypto.com, consisted of an equal split between shares and cash. This represents nearly 2% of Cronos’s current circulating supply. These tokens are now valued at $178 million.

“We are convinced that CRO has enormous potential for widespread adoption as a universal utility token and an excellent form of secure and fast payments and money transfers, and we are excited to add this innovative asset to our balance sheet,” Devin Nunes, CEO and Chairman of Trump Media, noted.

The company plans to integrate the CRO token into the Truth Social and Truth+ platforms as part of a rewards system using Crypto.com’s digital wallet infrastructure.

This is one of the key steps aimed at increasing the utility and value of both CRO and the Cronos blockchain. “We are proud to provide support to Trump Media with our best-in-class custody solution and generate additional value through CRO’s staking model,” Kris Marszalek, co-founder and CEO of Crypto.com, emphasized.