Trump Media, Crypto.com Secure $6.42B SPAC for Cro Token Treasury

President Donald Trump's Trump Media Group has launched a major partnership with Crypto.com and Yorkville Advisors to create a $6.42 billion digital asset treasury company focused on the Cronos (CRO) token, named Trump Media CRO Strategy Inc. The venture involves purchasing $1 billion in CRO tokens, $420 million in cash and equivalents, and a $5 billion equity line of credit, marking one of the largest crypto treasury strategies to date. This announcement caused a significant surge in CRO's price, with the token rising over 30% and trading volumes and futures open interest spiking dramatically. In addition to treasury holdings, Trump Media plans to integrate Crypto.com's wallet infrastructure and launch a rewards system on its Truth Social platform. Concurrently, Truth Social has filed for a dual bitcoin-ether ETF, signifying a broader push by President Trump's media company into legitimizing and expanding crypto investment vehicles amid growing institutional adoption. These moves reflect both a strategic embrace of cryptocurrency by Trump Media and the administration’s crypto-friendly regulatory stance, positioning the company at the forefront of the evolving digital asset landscape.