Trump Media & Technology Group has acquired approximately 2% of the circulating supply of CRO

ChainCatcher news, according to GlobeNewswire, the Trump Media Technology Group announced today that it has completed the previously announced acquisition agreement with Crypto.com.

According to the agreement, the Trump Media Technology Group will acquire 684.4 million Cronos (CRO) tokens at a price of approximately $0.153 per token, with the transaction being conducted through a 50% stock and 50% cash exchange with Crypto.com. These tokens represent about 2% of the current circulating total of CRO (in addition, the Trump Media Technology Group's CRO strategy company will acquire approximately 19% of the circulating CRO).

The Trump Media Technology Group will hold its CRO through Crypto.com's institutional-grade custody service, Crypto.com Custody, which will enable the Trump Media Technology Group to earn additional income by staking the tokens. The Trump Media Technology Group stock and CRO tokens exchanged in the transaction will be subject to a lock-up period.