Hi HODLers,
Trump Media said it would purchase 684.4 million CRO tokens as part of a deal with the exchange following a joint venture to create a crypto treasury.
It was published that they acquired $CRO at $0.153 each, bringing the total initial purchase to nearly $105 million. The current market price of these is around $0.26.
I have always hated that token as the company screwed its holders and investors. It used to be called Monaco Coin for the OGs out there...
So they are also basically either giving free $MCO to Trump or telling their holders that it should be worth less I guess.
According to the company, the agreement will allow Truth Social users to potentially acquire CRO on the platform as part of a rewards program.
Interesting, are they replicating what used to be the BCH social media app or even the #hive reward model?
Finally, Trump Media Group joined other investors (mostly Crypto.com own funds) to invest in a crypto treasury of the CRO token. Obviously the move from Crypto.com and his sketchy founder is to legitimize his company and token which most people consider as a shitcoin.
I am not surprised that the Trump family is once again engaging in at the very least sketchy behavior with the worst in the crypto space...
This follows a previous deal and recent drama with Justin Sun. A notorious scammer and shitcoiner. It also follows reports that the Crypto ventures of teh Trump family earned them $bn and his now their primary wealth (before Real Estate!).
What a bunch of crooks!
Trump Family, aren't you ashamed!?
Stay safe out there,