Acquisition (Nasdaq: YORK) announced on the 27th that it has entered into a definitive agreement for a major business combination. Through this agreement, the three companies will become the "Trump Media Group"
Co-founded a digital asset reserve company called Trump Media Group CRO Strategy, Inc.
The new entity will focus on securing CRO tokens, the proprietary cryptocurrency of the Cronos blockchain ecosystem, and will be the world's first and largest
Upon completion of the business combination, Trump Media, Crypto.com, and Yorkville Acquisition will become founding partners.
The size of the reserve is approximately $1 billion worth of CRO (19% of the market capitalization at the time of the announcement), $200 million in cash, and $220 million in warrants exercised.
The transaction consists of a $5 billion equity credit facility from Yorkville affiliate YA II PN, Ltd. Yorkville Acquisition will acquire Class A publicly traded equity in connection with the business combination.
The two companies plan to list their common stock on the Nasdaq under the new ticker symbol "MCGA." After the business combination is complete, the ticker symbol will become "Trump Media Group."
In order to strengthen their long-term partnership, the three companies will also agree to a one-year grace period for the founding equity interests (including warrants) after the business combination is completed.
The Trump Media Group CRO strategy is to build and actively manage CROs.
The company plans to implement a digital asset reserve strategy centered on cryptocurrencies. The company will allocate a significant portion of its cash holdings to purchase CROs to secure long-term value and operate its own validator nodes to secure the network.
By participating in security and governance, the company also plans to generate additional revenue through staking rewards.
"Financial markets are rapidly becoming digital, and companies around the world are building digital asset reserves to prepare for the future," said Nunes, president and CEO of the "Global Leading Platform."
"We are pleased to enter into this strategic partnership with Crypto.com, a leading cryptocurrency platform, and Yorkville, a sophisticated investor group."
Kris Marszalek, co-founder and CEO of Crypto.com
"The scale and structure of this project exceeds the entire current CRO market capitalization, adding over $400 million in cash and capital," said Marszalek.
"This partnership, combined with our validator strategy and custody structure, creates a unique and attractive opportunity," he added.
Trump Media is currently running a social media platform called "Truth Social."
Social" and "Truth+ TV" which focuses on family-friendly content.
Streaming TV, and operating and preparing the financial and fintech brand Truth.Fi
On the other hand, Crypto.com is a global cryptocurrency platform trusted by over 140 million users worldwide, and has the slogan "Cryptocurrency in Every Wallet."
With this vision in mind, the company is rapidly expanding its market.
2025/08/27 11:20 KST
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