Crypto / Blockchain
Definitive Agreement
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WEST PALM BEACH, Fla. - August 26, 2025 - Yorkville Acquisition Corp. (NASDAQ: YORK), Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT), and Crypto.com have entered into a definitive agreement for a business combination. This strategic move aims to establish Trump Media Group CRO Strategy, Inc., a new digital asset treasury company primarily focused on the acquisition and active management of CRO, the native cryptocurrency token of the Cronos ecosystem.
The newly formed entity, Trump Media Group CRO Strategy, Inc., will be majority-owned by its founding partners: Yorkville, Trump Media, and Crypto.com. Upon the closing of the Business Combination, Yorkville Acquisition Corp. plans to change its Nasdaq ticker symbol to "MCGA", which will then transfer to Trump Media Group CRO Strategy.
Key Financial & Strategic Highlights
Significant Funding Commitment: The digital asset treasury is expected to be funded with a substantial $6.42 billion. This includes $1 billion in CRO tokens, approximately 6.3 billion CRO, representing around 19% of the total CRO market capitalization at the time of the announcement. Additionally, the funding comprises $200 million in cash and $220 million from cash-in mandatory exercise warrants. An affiliate of Yorkville, YA II PN, Ltd., will provide an extra $5 billion equity line of credit.
Largest Digital Asset Treasury: This funding structure is anticipated to position Trump Media Group CRO Strategy as the first and largest publicly traded CRO treasury company, and potentially the largest digital asset treasury company relative to its market cap in history.
Founding Partner Commitment: Yorkville, Trump Media, and Crypto.com have agreed to a mandatory one-year initial lock-up period for their founding shareholdings and warrants, followed by an additional three-year restrictive release schedule, demonstrating a long-term commitment to the venture.
Devin Nunes, Chairman and CEO of Trump Media & Technology Group, emphasized the bullish outlook on cryptocurrency, stating, "Financial markets are becoming increasingly digital every day, and companies of all sizes and sectors are strategically planning for the future by establishing digital asset treasuries... We are excited to be partnering with a leading global cryptocurrency platform and one of the most sophisticated investor groups in Yorkville for this strategic initiative."
The strategy for Trump Media Group CRO Strategy involves the accumulation and active management of CRO, allocating substantially all of its cash reserves to acquire CRO. This includes establishing and operating a validator node, delegating CRO under management to this validator, and reinvesting native staking rewards to compound CRO holdings and offset operational expenses. This approach aims to maximize capital efficiency and establish a long-term presence in the digital asset landscape.
Kris Marszalek, Co-Founder and CEO of Crypto.com, highlighted the project's scale: "The sheer size and structure of this project will encompass more than the entire current market capitalization of CRO, with the additional commitments of over $400 million in cash and a further $5 billion line of credit facility to acquire additional CRO."
Clear Street served as the exclusive capital markets advisor to Yorkville Acquisition Corp. Legal counsel was provided by DLA Piper LLP (US) for Yorkville Acquisition Corp. and Skadden, Arps, Slate, Meagher & Flom LLP for Crypto.com.