The transaction, valued at roughly $178 million at current prices, was structured as a 50% stock and 50% cash exchange, according to the Sept. 5 announcement.
TMTG said it paid about $0.15 per token for the assets, which represent roughly 2% of CRO’s circulating supply.
The company said the arrangement also strengthens plans for its newly formed subsidiary, Trump Media Group CRO Strategy Inc., which has a pending merger with Yorkville Acquisition Corp. to create a digital asset treasury business focused on accumulating CRO.
Crypto.com will provide custody for the tokens under its institutional-grade storage program. Both the CRO tokens and Trump Media shares involved in the swap are subject to a lockup period.
“This is the first of many steps to driving utility and value for CRO and the Cronos blockchain.”
The purchase comes as Trump-linked ventures accelerate their push into digital assets.
Despite the fanfare, markets had a muted reaction to the development. DJT shares fell 1.5% to $16.51, while CRO dropped about the same percentage to $0.26.
The deal, first reported in August, could ultimately grow to $6.4 billion if Trump Media draws down additional capital from its credit line. If fully executed, it would create the largest CRO-focused treasury firm to date.
