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Trump’s Simple Deal-Making Style
At the start of the second chapter of The Art of the Deal, Donald Trump claims that his approach to negotiations is “very straightforward.” Notably, this was stated well before cryptocurrency existed.
Truth Social’s New Venture
Recently, the company behind Trump’s social media platform, Truth Social, announced a complex partnership with Crypto.com, a financial service firm from Singapore.
This collaboration has led to the creation of a new entity called Trump Media Group CRO Strategy, aimed at acquiring and managing a significant amount of Crypto.com’s cryptocurrency, “Cronos.”
Additionally, Yorkville Acquisition Corp. joins the partnership, paving the way for the venture to go public on Nasdaq.
Understanding the Crypto Complexities
The arrangement appears to involve intricate financial maneuvers—three companies forming a fourth to promote a relatively obscure cryptocurrency.
Since Trump’s claims during the 2024 election about turning the U.S. into the “crypto capital of the planet,” he and his affiliates have been deeply entwined with cryptocurrency.
Trump’s Crypto Endeavors
Following his presidential win, Trump delved into meme coins—cryptocurrencies driven by hype rather than conventional business principles.
The venture named $TRUMP even made him a temporary crypto billionaire on paper. Trump-aligned businesses have been amassing various cryptocurrencies, culminating in this week’s significant $6.4 billion Cronos deal.
Trump and American Interests
Trump’s actions seem strategically designed to reward a sector that substantially contributed to his reelection campaign while simultaneously inflating his wealth, which is now closely linked to the crypto market.
Although he’s backed American businesses within a largely foreign industry, he hasn’t thoroughly justified these potential conflicts of interest—often appearing to promote his business empire.
Crypto’s Shift from Its Origins
Trump’s involvement marks a significant departure from cryptocurrency’s original ideals, which emerged from a desire to challenge financial institutions post-2008 crisis.
Initially, cryptocurrencies represented a counterculture movement advocating independent financial systems. Now, largely due to Trump’s influence, crypto has become associated with many mainstream institutions it once aimed to disrupt.
Furthering the Crypto Agenda
The Cronos treasury deal illustrates Trump’s self-promotional strategy while reinforcing the connection between the crypto sector and the White House.
Crypto.com, which has gained visibility in the U.S. since acquiring naming rights to a prominent venue in Los Angeles, has developed ties with the Trump administration.
Recent announcements indicate that the Department of Commerce plans to publish GDP data on the blockchain, a move seemingly designed for hype, culminating in Commerce Secretary Howard Lutnick referring to Trump as the “crypto president” during a Cabinet meeting.
