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Trump Media & Technology Group: Has Acquired Approximately 2% of CRO Circulating Supply
BlockBeats News, September 5th, according to globenewswire, Trump Media & Technology Group announced today that it has completed the previously announced acquisition agreement with Crypto.com.
Under the agreement, Trump Media & Technology Group will acquire 6.844 billion Cronos (CRO) tokens at a price of approximately $0.153 per token, with the transaction conducted through a 50% stock and 50% cash exchange with Crypto.com. These tokens represent about 2% of the current circulating CRO supply (in addition, Trump Media & Technology Group's CRO Strategy Company will acquire approximately 19% of the circulating CRO).
Trump Media & Technology Group will custody its CRO through Crypto.com's institutional-grade custody service, Crypto.com Custody, allowing Trump Media & Technology Group to earn additional yield through token staking. The Trump Media & Technology Group stock and CRO tokens exchanged in the transaction will be subject to lock-up periods.
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