Trump's company raised $6.42 billion to establish a treasury $CRO 🎉
Trump Media (DJT) has just partnered with Yorkville Acquisition (YORK) and Crypto.com to establish Trump Media Group CRO Strategy – a crypto treasury company holding the native token of the Cronos network - CRO.
According to the agreement, the new company will be jointly owned by all three. The expected funding sources include: - 1 billion USD CRO, accounting for ~19% of the current CRO market capitalization - 200 million USD in cash + 220 million USD in mandatory purchase rights - 5 billion USD credit limit for equity capital from Yorkville's investment fund
The founding parties commit to locking their shares for at least 1 year, and then gradually unlocking them over the next 3 years.
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Trump's company raised $6.42 billion to establish a treasury $CRO 🎉
Trump Media (DJT) has just partnered with Yorkville Acquisition (YORK) and Crypto.com to establish Trump Media Group CRO Strategy – a crypto treasury company holding the native token of the Cronos network - CRO.
According to the agreement, the new company will be jointly owned by all three. The expected funding sources include:
- 1 billion USD CRO, accounting for ~19% of the current CRO market capitalization
- 200 million USD in cash + 220 million USD in mandatory purchase rights
- 5 billion USD credit limit for equity capital from Yorkville's investment fund
The founding parties commit to locking their shares for at least 1 year, and then gradually unlocking them over the next 3 years.
CRO price surged by ~30% after the news 🚀