Trump Media buys $105M CRO for Truth Social, SPAC merger
Trump Media & Technology Group has acquired 684.4 million Cronos tokens (CRO) for $105 million—about 2% of the circulating supply—in a deal with Crypto.com. The company plans to integrate CRO into Truth Social’s incentive ecosystem and the upcoming Truth+ streaming service via the Crypto.com wallet. To manage its $6.42 billion CRO treasury, Trump Media formed the subsidiary Trump Media Group CRO Strategy, Inc., which has agreed to merge with SPAC YA II PN, Ltd. for a public listing. CEO Devin Nunes described CRO as a fast, secure universal payment solution. After the announcement, CRO rose over 3% on Binance, reflecting market optimism about Cronos token adoption.
Bullish
The acquisition of CRO by Trump Media and its planned integration into Truth Social, combined with a SPAC merger for a public listing, signals strong institutional demand and broader utility for the Cronos token. The immediate 3% price rise on Binance reflects positive trader sentiment and suggests sustained short-term upward momentum. Over the long term, embedding CRO in a major social platform’s incentive ecosystem and streaming service may drive usage and token scarcity, underpinning continued bullish pressure on CRO.