Trump Media, Crypto.com spin out exchange token SPAC

The media company bearing the name “Trump Media and Technology) agreed to an agreement with Yorkville Acquisition Corp.

Crypto Crypto Treasury will launch Crypto Treasury Company Crypto Treasury Company Crypto Treasury Company Crypto Treasury, which was revealed by CROS (CRO), which revealed partnership companies on Tuesday file.

The new company will call the CRO GROUP TROMP Media Group strategy and is expected to circulate under the MCGA code. The majority will be owned by the president’s Media Company, along with Crypto.com and Chancellor Yorkville.

Blank Check Company, also known as the SPAC acquisition company (SPAC), is the Shell that collects money through public subscription with the aim of integrating with or obtaining a private private company. These compounds are mainly used in faster general lists, but they often come with the disadvantage of the lack of transparency before the list compared to a typical general subscription.

As part of the deal, Crypto.com will transfer about 684 million CRO codes worth about $ 105 million to Trump Media, compared to 2.8 million units of its shares and $ 50 million in cash, according to the file.

Trump Media’s share increased to 10 % on Tuesday morning after the release, while the distinguished code of Crypto.com jumped to 35 %.

“We are still rising in the encrypted currency,” Trump Media, CEO of Trump, said in a statement related to the announcement.

Nunes added: “Companies of all sizes and sectors are strategically planned for the future by creating the digital asset bonds on which the assets are based that created a comprehensive proposal for value and prepare for a greater benefit.”

The mutual stocks and symbols that TROMP Media, Crypto.com and Yorkville will be subject to mandatory lock period for one year after closing the deal.

“The volume and the enormous structure of this project will include more than the current market value of CRO,” said Chris Marzalek, CEO of Crypto.com in the release.

CRO is a less well -known code with a total market value of $ 6.6 billion. “The company” will have a dry powder “more than the total market value of CRO.

It will become a symbol of a platform for social media owned by social media owned by the media, social truth.

This step is the latest example of a wave of private companies that accelerate the public market or public companies that burn their business model in the footsteps of the play that Michael Sailor, founder of Strategy (MSTR), formerly Microstrategy. Their main goal: buy and contract Bitcoin (BTC-Us), Ether (ETH-Us), or other digital assets.