Trump Media Seals $6.42B Deal Around CRO Tokens

Trump Media & Technology Group announced a $6.42 billion agreement with Crypto.com and Yorkville Acquisition Corp to form Trump Media Group CRO Strategy. The new entity will focus on acquiring CRO tokens, making it the largest CRO treasury vehicle to date.

Funding consists of $1 billion in CRO (Cronos), $200 million cash, $220 million warrants, and a $5 billion Yorkville credit line. The planned structure exceeds CRO’s current market capitalization, raising questions about execution since most purchases rely on future drawdowns.

Trump Media separately acquired 684 million CRO worth $105 million, exchanging $50 million cash and 2.8 million shares of DJT stock. Those tokens, purchased from Foris Holdings, will be custodied and staked through Crypto.com infrastructure to generate yield.

The partnership also makes CRO the utility token for Truth Social and Truth+, with in-app “gems” convertible into CRO rewards. Yorkville will rebrand its Nasdaq ticker from YORK to MCGA, while Trump Media stock rose over 6% on the announcement.

United Arab Emirates Holds $700M in Bitcoin From Mining

Blockchain analytics firm Arkham Intelligence disclosed that the United Arab Emirates currently holds about $700 million worth of Bitcoin. The majority of these holdings were mined through Citadel Mining, a company majority-owned by Abu Dhabi’s International Holding Company. Arkham reported the wallets contained roughly 6,300 Bitcoin, making the UAE one of the largest government-linked holders worldwide.

Speculation had previously suggested the country possessed nearly 420,000 Bitcoin, primarily from seizures, which Arkham’s data disproved. Citadel Mining was built in 2022 alongside Phoenix Group and IHC, both tied to the royal family. Through satellite images and on-chain transactions, Arkham verified the mining activity, estimating the UAE accumulated nearly 9,300 total Bitcoin to date.

Trump Jr. Joins Polymarket Advisory Board

Donald Trump Jr., son of President Trump, has invested in Polymarket through venture capital firm 1789 Capital. On Tuesday, the company announced that Trump Jr. would also join Polymarket’s advisory board following the undisclosed investment. Trump Jr. praised the platform for allowing users to place monetary stakes on future world events.

Trump Jr. had earlier accepted a strategic advisory role with rival prediction market Kalshi in January this year. Polymarket, despite a 2022 CFTC settlement requiring fines and restrictions, has since expanded operations aggressively. The company’s recent $112 million acquisition of QCEX aims to enable a legal re-entry into the US market.

Kraken Meets With The SEC on Tokenization Plans

Crypto exchange Kraken met with the SEC’s Crypto Task Force to discuss tokenization and regulatory frameworks. Representatives from Payward Inc., Kraken Securities, and the law firm WilmerHale joined SEC officials for the structured discussion. The meeting agenda covered tokenized trading systems, compliance requirements, and how such models might transform traditional securities markets.

The session occurred amid growing calls for stronger investor protection regarding tokenized RWAs, which trade without traditional safeguards. Kraken introduced tokenized stock services in May, targeting non-US investors, while Robinhood launched similar products across Europe. Currently, only $360 million in tokenized stocks circulate, but analysts estimate the sector could eventually reach trillion-dollar valuations.

Data of the Day

Spot Ethereum ETFs in the US saw $443.9 million in net daily inflows, outpacing Bitcoin funds. BlackRock’s ETHA brought in nearly $315 million, while Fidelity’s FETH accounted for $87.4 million, with others adding smaller amounts. Analysts highlighted these flows as a potential sign of institutional rotation toward Ethereum-backed assets despite volatile markets.

Bitcoin ETFs registered $219 million of inflows that same day, breaking a six-day streak of consecutive outflows. Market analysts attributed shifting investor focus to Ethereum’s yield features, regulatory clarity, and adoption by corporate treasuries. Despite overall declines in cryptocurrency prices, data indicate institutional participants are continuing to increase their exposure to ETH ETFs.

More Breaking News

• SharpLink raised $361 million and added 56,533 ether, bringing holdings near 800,000 ETH worth $3.6 billion, with another $200 million still available.
• Newcastle United signed a multi-year partnership with crypto exchange BYDFi, aiming to expand globally while giving fans access to new digital financial tools.
• Gemini launched staking for Ethereum and Solana in the UK, broadening access to yields and strengthening its presence after opening a London office.
• Canary Capital filed with the SEC to launch a Trump Meme Coin ETF, seeking approval as memecoin-linked funds multiply under a friendlier regulatory environment.
• Bitpanda co-founder Eric Demuth said the firm is preparing for a public listing, likely in New York, while ruling out London entirely.
• deBridge integrated Tron into its cross-chain protocol, enabling MEV-protected swaps across Ethereum, Solana, and 25+ blockchains, linking USDT’s largest network with DeFi.
• Eclipse Labs cut 65% of staff and named Sydney Huang CEO, pivoting from infrastructure toward building in-house user-facing applications after its token launch.

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