Oh, you thought the drama was over? Nope. Trump Media and Technology Group Corp.-yes, *that* one with Truth Social-has just dropped a cool $105 million on Cronos (CRO) tokens from Crypto.com. Because why not? 🐶💎
Let’s break it down: they bought 684.4 million CRO tokens at roughly 15.3 cents each. And how did they pay for this little shopping spree? Half cash, half company stock. So now they’re sitting pretty as one of the bigger holders of CRO, owning about two percent of all the tokens floating around out there. Fancy.
But wait! There’s a twist. Neither the tokens nor the Trump Media shares involved in this deal can be traded right away because… lockup period. Groundbreaking stuff. In the meantime, they’ll stash the tokens safely using Crypto.com’s custody service while raking in some staking rewards. Efficient? Sure. Boring? Absolutely.
Devin Nunes, CEO and chairman of Trump Media, sounded positively giddy in the press release. “We’re convinced that CRO has tremendous potential,” he said, presumably while wearing a suit made entirely of confidence. He called it a “versatile utility token” and a “superior form of safe, fast payment.” Bold claims for something most people still confuse with croissants. 🥐
And if you think this is where the story ends, oh no, darling. Both companies are planning more partnerships to integrate CRO into Truth Social and Truth+ as part of a rewards program. So maybe someday soon you’ll earn crypto points for liking tweets posts things idk. Progress!
Meanwhile, Trump Media continues its descent-or ascent?-into the chaotic world of digital money. Earlier this year, they announced plans for crypto investment products and reportedly hold a staggering two billion dollars in bitcoin. Two. Billion. Dollars. I hope someone told them what a USB stick is before they lost their private keys under the couch cushions. 😬
So here we are. A presidential media company buying millions in crypto tokens. What could possibly go wrong? 🚀📉 Only time will tell, but honestly, popcorn sales should spike either way.
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2025-09-05 21:09