Yorkville Acquisition Corp. has confidentially filed a Form S-4 with the U.S. Securities and Exchange Commission (SEC), marking a significant step in its proposed business combination with affiliates of Trump Media & Technology Group and Crypto.com to establish a publicly traded digital-asset treasury focused on Cronos (CRO).
The filing was accompanied by the appointment of two veteran executives: Steve Gutterman as chief executive officer and Sim Salzman as chief financial officer, who will transition into their roles as the deal approaches completion, expected in the first quarter of 2026. Upon closing, the company will be renamed Trump Media Group CRO Strategy, Inc. and continue trading on Nasdaq under the symbol MCGA, short for "Make CRO Great Again."
The treasury aims to accumulate and manage large reserves of CRO, with initial funding commitments including approximately 6.3 billion CRO tokens (valued around $636 million at current prices), $200 million in cash, $220 million in warrants, and a $5 billion equity line of credit from Yorkville affiliate YA II PN, Ltd. This strategy was first announced in August 2025, with plans to position the entity as one of the largest single-asset crypto treasuries.
The company intends to stake its CRO holdings through Crypto.com Custody, generating an estimated 6% annual yield, and operate a validator node on the Cronos blockchain to support network functions while compounding rewards.
Concurrently, Trump Media has been integrating CRO more deeply into its platforms, replacing plans for an in-house utility token with a system that converts Truth Social "gems" into CRO via Crypto.com's wallet infrastructure. In September 2025, Trump Media purchased 684.4 million CRO tokens for $105 million, and currently holds 756 million CRO valued at approximately $75 million, showing an unrealized loss of about $38.7 million amid a 34% price decline over the past month. CRO is trading around $0.099, down 90% from its 2021 all-time high.
