Trump Media announced the establishment of a digital asset treasury company and is betting on CRO coin.

Trump Media, Technology Group, Yorkville Acquisition, and Crypto.com have announced a business merger agreement to establish a digital asset custody company. The three companies stated that the new company will be named "Trump Media Group CRO Strategy" and its core business will be acquiring the native cryptocurrency token CRO of the Cronos ecosystem, which will be traded on Nasdaq under the stock code "MCGA". After the transaction is completed, these three companies will collectively own the majority of the new company's shares. Following the news, Trump Media Technology Group rose by 4.4%, and CRO coin rose by 25%.