Trump Media and Cryptocurrency.com collaborate on the basis of a share exchange of Cronos tokens and deploying a crypto rewards platform on their websites.
Trump Media & Technology Group Corp., the company that operates the Truth Social platform, has finalized a deal that attracts attention with Crypto.com.
This was a strategic acquisition bought by the company at about 684.4 million Cronos (CRO), which cost the company approximately 105 million dollars.
The form of payment consisted of a division of fifty percent between cash and Crypto.com shares, with the latter amounting to around two percent of the total stock that was available to CRO.
The shares of Trump Media, along with the CRO tokens, are both subject to a lock-up period to stabilize the arrangement.
Additionally, Crypto.com will provide high-quality holdings of the tokens. Trump Media will then be able to stake them to generate more revenue.
Trump Media’s Bold Crypto Move
This is not just a token purchase. Trump Media and Crypto.com have entered into a partnership with each other to integrate the CRO token and Crypto.com digital wallet infrastructure into the Truth Social and Trust + platforms.
Crypto.com executives also identified this initiative as an important step toward the value and utility of CRO. They further emphasized its role in advancing blockchain implementation in digital finance.
These will be marketed by Crypto.com in conjunction with the streaming service offered by Trump Media, and will serve as the first step to making crypto useful in the conventional social media sector.
This project is targeted to build a treasury of the CRO tokens amounting to 6.4 billion dollars, which will support the increase in the participation of Trump Media in the blockchain economy.
Devin Nunes, the CEO of Trump Media, underlined the prospects of the token as a safe and rapid payment method. He also highlighted its potential as a universal utility token.
Crypto.com executives also identified this initiative as an important step toward the value and utility of CRO. They further emphasized its role in advancing blockchain implementation in digital finance.
The CRO Token: Future of an Economy.
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