Trump family crypto empire expands with Crypto.com partnership

By ALAN SUDERMAN President Donald Trump s personal crypto ventures are expanding again this time with plans for a digital asset treasury company that holds an alternative cryptocurrency Related Articles Democratic leaders look to derail Trump as he threatens to send National Guard to more cities Trump s bid to encouragement coal could cost ratepayers billions assessment finds Court tosses lawsuit by Trump against Maryland federal judges calling it potentially calamitous What shoppers can do to limit charges once the US ends a tariff exemption for goods under A US tariff exemption for small orders ends Friday It s a big deal to certain shoppers and businesses Trump Media and System Group which operates the Truth Social media platform declared Tuesday that it was partnering with the cryptocurrency exchange Crypto com to form a company that holds CRO a token created by Crypto com A blank check company tied to Yorkville Advisors is another co-founder of the new firm called Trump Media CRO Strategy Trump Media stated it plans to purchase million worth of CRO Yorkville explained the total expected funding for the company s treasury will be billion worth of CRO or about of the token s realm cap plus million in cash and equivalents and as a billion line of credit The announcement is part of the hottest trend in crypto in which a wide variety of companies a great number of with no obvious ties to the world of digital assets have made buying and holding cryptocurrency a primary part of their business plan The model is based on MicroStrategy a tech firm that first started buying bitcoin in and has seen its stock price soar Companies of all sizes and sectors are strategically planning for the future by establishing digital asset treasuries anchored by assets that have created a comprehensive value proposition and are poised for even greater utility Devin Nunes the chairman and CEO of Trump Media declared in a report Trump Media noted it plans to introduce a rewards system on Truth Social that uses Crypto com digital wallet infrastructure CRO saw its price jump Tuesday morning by about to cents a token It s still far off from its all-time high of nearly cents a token that it hit in Expanding Crypto Empire Since taking office the Trump administration has pushed for crypto-friendly regulations and laws while the Trump family has aggressively sought to expand its crypto-related businesses That unprecedented dynamic has led to statements of corruption from Democrats though the president says he has entrusted the management of his business dealings to his sons In May Trump rewarded top investors in his meme coin with a swanky dinner Trump launched the coin just days before taking office Fans of the president have also been able to buy crypto-themed Trump merchandise including watches and pricey sneakers Trump Media previously communicated plans to hold a key amount of bitcoin on its books as well as to create an exchange-traded fund tied to the prices of five popular cryptocurrencies World Liberty Financial a cryptocurrency company launched by Trump and his sons last year has received substantial boosts from an commitment fund in the United Arab Emirates and Justin Sun a China-born crypto entrepreneur The Securities and Exchange Commission has paused a lawsuit it filed against Sun in alleging his company engaged in domain manipulation and paid celebrities for undisclosed promotions A little-known firm called ALT Sigma in recent weeks disclosed it was planning to raise billion to buy the digital coins created by World Liberty Financial and that Eric Trump the president s son is joining the company s board Also on Tuesday a firm called Canary Capital filed paperwork with the SEC seeking to sell an exchange-traded fund that will track the price of the president s meme coin