Trump Media Technology Group has acquired $105 million CRO and will stake through CEX.

On August 26, according to Blockworks, Trump Media & Technology Group announced a strategic cooperation agreement with CEX to advance cooperation through parallel collaboration and acquisition agreements. According to the agreement, Trump Media will adopt CEX's wallet system to upgrade its in-app rewards program. Users can exchange the 'gems' they earn for Cronos (CRO) tokens, and can use the CRO balance to pay for subscription fees. Additionally, opening a CEX account will also provide free or discounted Truth+ subscriptions. Trump Media & Technology Group and CEX signed a $155 million strategic cooperation agreement. Trump Media & Technology Group has purchased approximately $105 million worth of CRO, about 685 million tokens, which will be held and staked through CEX. Furthermore, CEX purchased $50 million of common stock from Trump Media & Technology Group. Both parties' holdings are subject to lock-up periods. Additionally, a new entity, Trump Media Group CRO Strategy, Inc., will be established to manage token treasury operations and advance the proposed business merger with the special purpose acquisition company Yorkville Acquisition Corp.

TRUMP-0.58%
CRO25.86%
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