Trump Media will set up CRO digital asset vault with plans to raise $6.42 billion

According to Foresight News, according to the announcement of Yorkville Acquisition Corp., Trump Media & Technology Group reached an agreement with Crypto.com to form Trump Media Group CRO Strategy through a business merger with Yorkville Acquisition Corp., focusing on building a digital asset vault for Cronos native token CRO. The program is expected to raise approximately $6.42 billion in total, including $1 billion in CRO (about 19% of the total market capitalization at the time), $220 million in cash and mandatory subscription rights exercise funds, and a $5 billion equity line from Yorkville-affiliated YA II PN, Ltd., making it the first and largest publicly traded CRO vault company.


Upon completion of the merger, Trump Media Group CRO Strategy will hold a majority stake by Yorkville, Trump Media and Crypto.com as founding shareholders and implement a restricted release plan for at least one year of initial equity lock-up period and subsequent three years. The Treasury will focus on acquiring and managing CROs, while operating verification nodes to participate in network security and governance, and reinvest the pledge rewards received to increase CRO positions. The Cronos ecosystem supports low-cost, high-speed smart contract deployment, and has cross-chain interoperability, aiming to provide infrastructure for the US digital economy.

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.