Trump Media, the operator of Truth Social, the streaming platform Truth+, and the fintech brand Truth.Fi, has announced that it has signed cooperation and purchase agreements to create a strategic collaboration with Crypto.com.
As part of the mutual cooperation agreement, Trump Media is set to roll out a rewards system on the Truth Social and Truth+ platforms that leverages the Crypto.com digital wallet infrastructure and that adopts the Cronos (CRO) digital currency as a utility token.
As a high-performance, interoperable blockchain, Cronos is designed to enhance efficiency, scalability, and connectivity between networks, supporting the growth of the American digital economy. The technology allows low-cost, high-speed smart contract deployment and simplified integration with blockchain ecosystems, supporting wide adoption of decentralised applications in finance, commerce, and public infrastructure.
As a supporter of the open-source Cronos blockchain project, Crypto.com has integrated the CRO token and the Cronos protocol into various offerings for its customers, providing exposure to blockchains and their capabilities in a secure and regulated environment.
Trump Media x Crypto.com agreements
The mutual cooperation agreement will see:
- Trump Media integrating the CRO token on its Truth Social and Truth+ platforms. The company will collaborate with Crypto.com to develop an updated rewards system and enable the two platforms’ users to leverage the latter’s digital wallet infrastructure to convert gems, earned for participating in activities, into CRO and other benefits;
- Crypto.com providing digital wallet infrastructure that will anchor the Truth Social rewards programme;
- Additional planned partnership synergies, such as offering Truth users the ability to pay for subscriptions and services with their Crypto.com CRO balance and delivering free or discounted Truth+ subscriptions for customers who open a Crypto.com account;
- Both companies co-marketing the Truth+ platform and the Crypto.com wallet.
On the other hand, the two companies’ purchase agreement will establish:
- Trump Media will acquire approximately USD 105 million in CRO for its balance sheet, and Crypto.com will purchase USD 50 million in shares of common stock in Trump Media, both subject to a lockup period;
- Trump Media will secure its CRO with Crypto.com Custody service, which will allow the firm to stake it for additional revenue generation.
