---
title: "Why Cronos Is Skyrocketing Today"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/254676602.md"
description: "Cronos (CRO) surged 24.9% today following the announcement of a partnership between Crypto.com and Trump Media & Technology to create a new company that will acquire Cronos. The deal involves a SPAC merger with Yorkville Acquisition, funded by $1 billion in CRO tokens and additional cash and equity. Trump Media will purchase $100 million in Cronos, while Crypto.com will buy $50 million in Trump Media stock. Despite the excitement, caution is advised due to potential volatility surrounding the deal."
datetime: "2025-08-26T18:14:48.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/254676602.md)
  - [en](https://longbridge.com/en/news/254676602.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/254676602.md)
---

# Why Cronos Is Skyrocketing Today

**Cronos** (CRO 29.08%) is flying higher on Tuesday, up 24.9% in the last 24 hours as of 1:38 p.m. ET today. The spike comes as the **S&P 500** and the **Nasdaq Composite** are little changed.

Cronos, the token of the major exchange Crypto.com, is jumping after news broke that Crypto.com and **Trump Media & Technology** are teaming up to create a new company that will acquire Cronos.

## Trump Media will add Cronos

The parent company of Truth Social, Trump Media, will partner with Crypto.com to create a new entity that will be taken public via a SPAC deal. The entity will merge with **Yorkville Acquisition** and be listed under the ticker MCGA. The deal is funded with $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and an equity line of up to $5 billion from a Yorkville affiliate.

As part of the deal, Trump Media will purchase around $100 million in Cronos to add to its own books, while Crypto.com will buy roughly $50 million in Trump Media stock.

The deal to accumulate Cronos mirrors the same strategy by Trump Media to accumulate **Bitcoin** on its own books, which the company modeled after a strategy that was pioneered by Michael Saylor's **MicroStrategy** (doing business as Strategy). However, this deal is unique in that the target asset is a relatively minor altcoin at least in comparison to Bitcoin or **Ethereum**, which most other companies have targeted to this point.

Image source: Getty Images.

While the news led to a rush of investors purchasing Cronos, I would stay away from this token for now. There is likely to be a lot of volatility around this deal, just as there is a lot of volatility around Trump Media stock. If you're interested in investing in cryptocurrency, stick to Bitcoin or Ethereum.

### Related Stocks

- [YORK.US](https://longbridge.com/en/quote/YORK.US.md)
- [DJT.US](https://longbridge.com/en/quote/DJT.US.md)
- [MCGA.US](https://longbridge.com/en/quote/MCGA.US.md)

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