Trump Media to Buy Cryptocurrency From Crypto.com In Deal Worth $104.7 Million
By Nicholas G. Miller
President Trump's media company Trump Media agreed to acquire 684.4 million Cronos, a cryptocurrency, from Crypto.com for about 15.3 cents per token, in a half-stock, half-cash transaction worth $104.7 million.
The tokens represent 2% of the current circulating supply of Cronos, Crypto.com's native cryptocurrency and blockchain network.
The agreement will also enable Cronos to be integrated into Trump Media's Truth Social and Truth+ platforms as part of a rewards system.
Trump Media previously formed a separate company called Trump Media Group CRO Strategy, which has partnered with a special-purpose acquisition company to form a company focused on the acquisition of Cronos.
President Trump has embraced cryptocurrency during the first months of his term with several family members and associates engaged in various crypto ventures. Trump Media has accumulated billions of dollars in bitcoin.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
September 05, 2025 10:21 ET (14:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States