Yorkville Acquisition Corp. has appointed two former executives from Gryphon Digital Mining to head its merger, forming a new publicly traded digital asset treasury focused on the CRO token of the Cronos ecosystem.
The merger aims to combine capabilities with the Trump Media & Technology Group and Crypto.com to acquire and manage the CRO token as a core reserve asset. Steve Gutterman will take the role of CEO, and Sim Salzman will serve as CFO once the merger is finalized, which is expected to occur by Q1 2026. The duo previously guided Gryphon Digital Mining through pivotal transitions and regulatory processes.
The newly formed entity is designed to operate as a dedicated digital asset treasury, primarily centered on acquiring the CRO token, which is integral to the Cronos blockchain, created by Crypto.com.
In September, the companies disclosed plans to purchase 684.4 million CRO at around $0.153 per token, amounting to nearly $105 million divided between stock and cash.
After concluding the merger, this new entity plans to run a validator node on the Cronos network which will allow them to stake their CRO assets and actively participate in network operations.
In March, Crypto.com became a vital crypto partner for the Trump administration and was part of a select group of companies invited to the White House Crypto Summit. Soon after that, Trump Media entered into a non-binding agreement with the exchange to explore launching US exchange-traded funds targeting American-issued digital assets and securities.
Related: Trump’s Truth Social ventures into prediction markets with Crypto.com
The Current State of Digital Asset Treasuries
2025 has witnessed a surge in digital asset treasuries, public companies designed to manage cryptocurrency assets. However, many have faced challenges as the wider crypto market, including Bitcoin and others, has seen declines recently—Strategy Inc. (MSTR) down approximately 36% and Mara Holdings (MARA) decreasing over 37% in this timeframe, according to Yahoo Finance data.
Among companies holding Ether, Bitmine Immersion Technologies (BMNR) has dropped over 37.8% while Sharplink Gaming (SBET) has also seen declines of around 30%.
While there is no dedicated CRO-treasury yet, the CRO token was down about 8% at the time of writing and has seen over a 30% drop in the last month.
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