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Trump media firm raises $6.4 billion to invest in Crypto.com’s digital token, deal includes purchase of Trump stock
The Trump crypto empire keeps on expanding. On Tuesday, the company that owns the Trump family’s media properties announced it has raised $6.42 billion to acquire a supply of a digital token called Cronos, which is issued by Crypto.com, one of the world’s largest crypto exchanges. The funding includes a $5 billion credit line, an already acquired stash of $1 billion of Crypto.com’s token, $220 million in warrants, and $200 million in cash. The billions in capital will be injected into a special purpose acquisition company, or SPAC, called Yorkville Acquisition Corp. The new public company will trade under the ... (full story)
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