Here’s the latest reason why Trump Media DJT stock is climbing thanks to crypto

Trump Media is making another crypto play.

On Tuesday, Crypto.com and Trump Media & Technology Group, owner of President Donald Trump’s Truth Social social media network, announced their intention “to launch a rewards system on the Truth Social and Truth+ platforms”—using Crypto.com’s digital wallet and Cronos (CRO) digital currency as a utility token.

The move marks yet another example of the president’s ties to the crypto industry, as Trump has created a crypto-friendly regulatory environment during his second term.

The partnership follows the announcement of a $6.4 billion deal to create a new company, Trump Media Group CRO Strategy, via a merger with Yorkville Acquisition Corp, a special-purpose acquisition company (SPAC), that will be listed on the Nasdaq under the “MCGA” symbol.

The news sent shares of Trump Media & Technology Group (DJT) climbing in early morning trading on Tuesday. At the time of this writing, the stock was up over 5% in mid-day trading. Meanwhile, shares of Yorkville (YORK) were down about 1%.

Trump Media by the numbers

Trump Media & Technology Group reported its most recent quarterly results, covering the company’s fiscal 2025 Q2, which ended on June 30. The company reported a net loss of $20 million for the quarter, and second-quarter revenue sank 30% to $836,900 from a year earlier.

However, Trump’s Truth Social saw share prices rise, in part from its Bitcoin holdings, according to Fortune.

In its earnings report, Trump Media and Technology Group disclosed it held $2 billion in bitcoin and bitcoin-related securities.

The company had a market capitalization of $5.03 billion at the time of this writing.