On August 26 local time, Trump Media & Technology Group (DJT.O) announced that it has reached a merger agreement with digital asset exchange Crypto and SPAC-listed company Yorkville (code: York.O) to jointly establish a new company, Trump Media Group CRO Strategy Inc.

Following the news, Trump Media & Technology Group's stock rose by more than 8% after opening on Tuesday. As of the time of reporting, the gain had retreated to 4.7%. Yorkville's stock price saw a slight increase of 1%.

According to the announcement, after the merger is completed, Yorkville will be renamed MCGA and listed on NASDAQ. Yorkville, Trump Media & Technology Group, and Crypto have agreed to a mandatory one-year lock-up period for their founding shareholdings (including all warrants granted) after the completion of the business combination.

It is understood that the new company, Trump Media Group CRO Strategy Inc, is going public through a SPAC merger, raising approximately $6.42 billion in funds. This includes $1 billion equivalent in CRO, $200 million in cash, $220 million in enforced warrants, and a $5 billion equity credit line.

After the business combination is completed, the new company will implement a digital asset investment strategy focused on acquiring and managing CRO. This approach aims to capture long-term value by acquiring CRO with almost all of the company's cash reserves, focusing on yield-generating, ecosystem-aligned assets rather than traditional non-productive assets.

Information shows that CRO is the native token of the Cronos public chain. Cronos is a blockchain built by the crypto exchange Crypto.com, designed for speed, scalability, and seamless connectivity between networks, making it a solid foundation for the future U.S. digital economy. It enables low-cost, high-speed smart contract deployment and smooth integration with other major blockchain ecosystems, leading to the widespread adoption of decentralized applications in finance, commerce, and public infrastructure without the congestion or costs of traditional networks.

Devin Nunes, Chairman and CEO of Trump Media & Technology Group, said: "Financial markets are becoming more digital every day, and companies of all sizes and industries are strategically planning for the future by building digital asset treasuries based on assets that create comprehensive value propositions and promise greater utility. We remain bullish on cryptocurrency and are excited to collaborate with Crypto.com, one of the world's leading crypto platforms, and Yorkville, one of the most established investor groups, on this strategic initiative."

Kris Marszalek, Co-founder and CEO of Crypto.com, said: "The scale and structure of this project will exceed the entire current market cap of CRO, with an additional commitment of over $400 million in cash and another $5 billion in credit lines to acquire additional CRO. Combined with the share lock-ups from all parties and the Treasury's validator strategy, this makes it a unique and compelling product compared to all other digital assets."

Additionally, Trump Media & Technology Group also reached an agreement with Crypto.com to introduce a rewards system on its social media platforms Truth Social and Truth+. This system will use Crypto.com's digital wallet infrastructure and adopt the digital currency CRO as a utility token.