President Donald Trump is expanding his personal crypto ventures with plans for a digital asset treasury company that holds an alternative cryptocurrency. Trump Media is partnering with Crypto.com to form Trump Media CRO Strategy, which plans to purchase $105 million worth of CRO and $1 billion in total funding.

The announcement is part of a growing trend in which companies are incorporating cryptocurrency into their business plans, inspired by the success of companies like MicroStrategy. Trump Media plans to introduce a rewards system on Truth Social using Crypto.com’s infrastructure. CRO saw a 30% price jump to 21 cents per token.

Since taking office, the Trump administration has supported crypto-friendly regulations, leading to allegations of corruption from Democrats. Trump has rewarded top investors in his meme coin and launched crypto-themed merchandise. Trump Media previously announced plans to hold bitcoin and create a cryptocurrency exchange-traded fund.

World Liberty Financial, a company launched by Trump and his sons, has received investments from the UAE and Chinese crypto entrepreneur Justin Sun. The SEC paused a lawsuit against Sun alleging market manipulation. ALT5 Sigma plans to raise $1.5 billion to buy digital coins from World Liberty Financial, with Eric Trump joining the board. Canary Capital filed paperwork to sell an exchange-traded fund tracking the president’s meme coin.

Read more at Yahoo Finance: Trump family crypto empire expands with Crypto.com partnership