Trump Media Firm Sinks Another $6.4 Billion in Worthless Crypto

The Trump Media firm, which owns the Trump family’s media properties, announced on Aug. 26 that it had raised $6.4 billion and used it to purchase “Cronos” digital tokens of a company called Crypto.com. According to Fortune, the funding came from a $5 billion credit line, $1 billion of Crypto.com’s token already in hand, $220 million in warrants, and $200 million in cash. “As part of the deal, Trump Media will also partner with Crypto.com to add the crypto exchange’s token and crypto wallet to its platforms. In return, the crypto exchange will buy $50 million of Trump Media’s stock, and the Trump public company will buy $105 million of Crypto.com’s cryptocurrency,” Fortune reported.