Yorkville Acquisition Corp. has appointed two former executives from Gryphon Digital Mining to lead its planned merger, which will create a publicly listed digital asset treasury focused on accumulating the native tokens of the Cronos ecosystem. These appointments come as Yorkville prepares to form a new entity with Trump Media & Technology Group and Crypto.com to acquire and manage Cronos tokens (CRO) as its core reserve asset.
Once the merger is completed, Steve Gutterman will serve as CEO, and Sim Salzman will serve as CFO. Yorkville expects the merger to be completed in the first quarter of 2026. The two previously led Gryphon Digital Mining through restructuring, regulatory reporting, and capital market transactions, and have held senior positions at E*TRADE, American Bitcoin, and Marathon Digital.
This new entity is being formed through the merger of the businesses of Trump Media, co-founded by former U.S. President Donald Trump, and Crypto.com, aiming to operate as a digital asset treasury focused on purchasing and managing CRO tokens—the native token of the Cronos blockchain, which is built by Crypto.com.
The companies disclosed the plan in September, announcing an initial purchase of 684.4 million CRO tokens at approximately $0.153 per token, a transaction valued at nearly $105 million, split evenly between stock and cash.
After the merger is completed, the new company intends to run validation nodes on the Cronos network, enabling it to stake its CRO holdings, participate in network operations, and earn rewards to support its long-term accumulation strategy.
Crypto.com has become a key cryptocurrency partner of the Trump administration. In March, the company was among a select group invited to attend the White House cryptocurrency summit.
Shortly thereafter, Trump Media signed a non-binding agreement with the exchange to explore launching a U.S. exchange-traded fund focused on digital assets and securities issued in the United States.
In 2025, there was a wave of digital asset treasury companies, with these publicly listed firms aiming to hold and manage cryptocurrencies on their balance sheets. However, after a strong start, many companies are facing pressure as Bitcoin (BTC) and the broader cryptocurrency market have recently sold off.
According to Yahoo Finance, Strategy Inc. (MSTR), which initiated the corporate Bitcoin treasury trend in 2020, has fallen about 36% in the past month, while major Bitcoin miner and second-largest BTC corporate holder Mara Holdings (MARA) has dropped over 37% during the same period.
Among Ethereum treasury companies, Bitmine Immersion Technologies (BMNR) has declined over 37.8% in the past month, while Sharplink Gaming (SBET) has fallen about 30%.
While there are currently no dedicated CRO treasury companies, at the time of writing, the token itself has dropped about 8%, down over 30% in the past month.
Related: Cryptocurrency ETP ends four-week decline, attracting $1 billion inflow; Ripple (XRP) posts best single-week performance.
Original article: “Former Gryphon Executives to Lead New Treasury Company Formed by Trump Media and Crypto.com”
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