Trump Media & Technology Group Corp. (DJT) surged on Tuesday with a 10.16% increase in intra-day trading, closing at $18.12 per share. The company announced a $6.4-billion treasury strategy for Cronos tokens, solidifying its expansion into the digital currency industry.

Yorkville Acquisition Corp. signed an agreement with DJT and Crypto.com to establish a joint venture, Trump Media Group CRO Strategy, Inc., for acquiring Cronos. The new firm will receive $1 billion worth of CROs, $200 million in cash, and a $5 billion equity line of credit for future growth.

After the completion of the merger, the new firm will trade on the Nasdaq under the ticker symbol “MCGA,” standing for “Make Crypto Great Again.” While DJT shows promise as an investment, some AI stocks may offer higher returns with lower downside risk. Explore our report on the best short-term AI stock for more insights.

Read more at Yahoo Finance: Trump Media (DJT) Soars on New $6.4-Billion Crypto Treasury