Trump Media CEO bets $105M on crypto token - here's why experts are worried
Key Points
- Trump Media is betting $105 million on Cronos tokens to stab...
When a company's social media platform bleeds money faster than a day trader's stop-loss orders, what do you do? If you're Trump Media, apparently you go all-in on cryptocurrency. The company just announced a SPAC deal that has them betting $105 million on Cronos (CRO) tokens, and the market responded like a caffeinated crypto bro - shares jumped 6.6% to $18.36 on August 26.
The $1.2 Billion Crypto Gamble
Through their new SPAC partnership with Yorkville Acquisition and Crypto.com, Trump Media is assembling a treasure chest that would make a pirate jealous: $1 billion in CRO tokens, $200...
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