Trump Media to integrate CRO token on Truth Social and Truth+ platforms, forming strategic partnership with Crypto.com.

Trump Media has partnered with Crypto.com to integrate the Cronos (CRO) token on its Truth Social and Truth+ platforms. The partnership includes a rewards system using Crypto.com's digital wallet infrastructure and the adoption of CRO as a utility token. Trump Media will purchase $105 million in CRO for its balance sheet, while Crypto.com will buy $50 million in Trump Media shares.

Trump Media, the operator of Truth Social, Truth+, and Truth.Fi, has entered into a strategic partnership with Crypto.com to integrate the Cronos (CRO) token on its platforms. The partnership includes the implementation of a rewards system using Crypto.com's digital wallet infrastructure and the adoption of CRO as a utility token. Additionally, Trump Media will purchase approximately $105 million in CRO for its balance sheet, while Crypto.com will acquire $50 million in Trump Media shares.

The mutual cooperation agreement between the two companies outlines the integration of the CRO token on Truth Social and Truth+ platforms. Users will be able to convert earned gems into CRO and other benefits using Crypto.com's digital wallet infrastructure. Further planned synergies include the ability for Truth users to pay for subscriptions and services using their Crypto.com CRO balance and offering free or discounted Truth+ subscriptions to users who open a Crypto.com account. Both companies will also co-market the Truth+ platform and the Crypto.com wallet.

Trump Media's CEO and Chairman, Devin Nunes, stated, "After reopening the internet with a free-speech social media platform and building an uncancellable TV streaming service, Trump Media is partnering with the namesake of its industry, Crypto.com, to help make Cronos the utility token of choice around the globe. As the first company to widely implement CRO across social media and TV streaming platforms, Trump Media is proud to be an early adopter of this best-in-class digital network." Crypto.com Co-Founder and CEO, Kris Marszalek, added, "We are proud to partner with Trump Media, an innovator in digital media, to bring the utility of CRO to the Truth Social platform. This CRO integration is a historic moment for the Cronos blockchain and a testament to the loyal community of builders dedicated to broadening access to the benefits and opportunities of crypto."

The purchase and cooperation agreements were facilitated by DLA Piper LLP (US) as legal counsel to Trump Media. This partnership follows the announcement of a newly formed entity, Trump Media Group CRO Strategy, Inc., which has entered into a definitive agreement for a business combination with Yorkville Acquisition Corp (Nasdaq: YORK) to form a digital asset treasury company focused on the acquisition of CRO.

References:
[1] https://crypto.com/us/company-news/trump-media-cryptocom-announce-strategic-partnership