Trump Media (DJT) Soars on New $6.4-Billion Crypto Treasury

We recently published 10 Stocks Beating Wall Street at its Own Game. Trump Media & Technology Group Corp. (NASDAQ:DJT) is one of the top performers of Tuesday.

Trump Media climbed by as much as 10.16 percent at intra-day trading on Tuesday before paring gains to close at $18.12 apiece, as investors cheered the establishment of a $6.4-billion treasury strategy for Cronos tokens, solidifying its aggressive expansion into the digital currency industry.

In a statement, Yorkville Acquisition Corp. said it signed a definitive agreement with Trump Media & Technology Group Corp. (NASDAQ:DJT) and Crypto.com for the establishment of a joint venture company called Trump Media Group CRO Strategy, Inc., solely for the acquisition of Cronos.

The firm will be infused $1 billion worth of CROs, covering more than 6.3 billion units, or around 19 percent of the token’s total market capitalization. It would also get $200 million in cash and $220 million in cash-in mandatory exercise warrants, with an additional $5 billion equity line of credit from Yorkville’s affiliate, YA II PN, Ltd.

Upon completion, the new firm will go public through a merger with Yorkville and will trade on the Nasdaq under the ticker symbol “MCGA,” which means “Make Crypto Great Again.”