Crypto.com, Trump Media, and Yorkville establish CRO-based financial company... 154.2 billion won token purchase

Source: TokenPost Original Title: Crypto.com, Trump Media, Yorkville Establish CRO-Based Financial Company… Token Purchase Amounting to 154.2 Billion Won Original Link: Crypto.com, Trump Media, and Yorkville are joining forces to establish a digital asset finance company centered around the CRO token. A purchase of approximately 154.2 billion KRW worth of CRO will also be pursued.

Yorkville Acquisition plans to establish a new digital asset financial company focusing on the Chronos ( CRO ) ecosystem in collaboration with Trump Media Group and Crypto.com.

After the merger, the newly established company will adopt 'CRO', the token based on the Chronos blockchain, as its core reserve asset and will acquire and manage it. To this end, Yorkville has appointed Steve Guterman and Sim Saltzman, former executives of Gryphon Digital Mining, as CEO and CFO, respectively. They have extensive experience in restructuring, regulatory reporting, and capital market transactions.

The company that will be born through a strategic merger involving three parties plans to operate validator nodes on the Kronos network in the future. By staking CRO tokens, it aims to pursue both network participation and rewards, supporting a long-term holding strategy.

According to the initial agreement, the three companies agreed to purchase 684.4 million CRO tokens at approximately $0.153 each. The total purchase price is about $105 million(, or approximately 15.42 billion won), with half being paid in stocks and half in cash.

Crypto.com has recently deepened its collaboration with the U.S. government. In March, it was named as one of the invited companies to discuss Bitcoin readiness policies at the cryptocurrency summit hall. Following that, Trump Media entered into a non-binding agreement with the exchange to jointly discuss the launch of U.S.-issued digital assets and securities-based ETFs.

Market Interpretation

The collaboration between Crypto.com and Trump Media reflects the trend of digital assets expanding into the political and media realms. The strategy of using Kronos as a reserve asset aims for high impact, instead of carrying the risks associated with a single token.

Strategic Points

Securing staking rewards through the operation of CRO nodes seems to be a means to promote long-term financial stability. The joining of institutional personnel may also provide advantages in terms of regulatory response.