The Art of the Crypto Deal
Trump and his team are finding new ways to dress up the same old playbook.
By Will Gottsegen, The Atlantic
Right at the beginning of the second chapter of The Art of the Deal, Donald Trump declares that his “style of deal-making is quite simple and straightforward.” Crucially, this was long before the invention of cryptocurrency.
Earlier this week, the company behind the Trump-branded social-media app Truth Social announced an extremely convoluted partnership with Crypto.com, the Singaporean financial firm and trading post. The deal essentially results in the formation of a brand-new company—the dry-sounding Trump Media Group CRO Strategy—the primary purpose of which is to accumulate and hold massive amounts of Crypto.com’s own homespun cryptocurrency, “Cronos.” There’s also a third founding partner in the mix, Yorkville Acquisition Corp., which will allow the whole operation to go public on the Nasdaq.
