Trump Media & Technology Group (NASDAQ: DJT), Crypto.com and special purpose acquisition company Yorkville Acquisition Corp. said on Aug. 7 that they had agreed to terminate their planned business combination, ending a deal that would have created a public company called Trump Media Group CRO Strategy. The proposed vehicle had been framed as a $6.42 billion treasury strategy centered largely on CRO, the native token of Crypto.com.
In their announcement, the three parties said the decision was driven by “current market conditions” and changes in business and stakeholder priorities. They also said all prior discussions and development work tied to the transaction had been formally ended.
The cancellation also sweeps away Truth Predict, the native prediction market product that had been planned for Truth Social. Under the earlier structure, the market was supposed to be built directly into the social platform, with CDNA, a Crypto.com unit registered with the U.S. Commodity Futures Trading Commission, handling settlement and back-end operations while Truth Social supplied distribution. Users were expected to place predictions on elections, interest rates, commodities and professional sports events from inside the social feed.
The CRO treasury vehicle never fully launched
A press release issued in late August 2025 described the proposed capital structure as $1 billion in CRO, $200 million in cash, $220 million in mandatory exercise warrants, and up to $5 billion in equity credit from YA II PN, an affiliate of Yorkville. Once completed, the merged company had been expected to list on Nasdaq under the ticker MCGA.
Only a small part of that structure was ever put into motion. Trump Media invested $105 million in CRO in September 2025, when the token was trading at about $0.236. Using the latest quoted price in the report, $0.0507, CRO has fallen by nearly 80% from that entry point. The report also said there was no record that the equity credit line of up to $5 billion was ever used.
When the transaction was first announced a year earlier, CRO jumped more than 30% in a single day and reached as high as $0.215, according to the report. After the deal was scrapped, CRO fell about 5% and was quoted at $0.0507.
Truth Predict is out, marketing stays
Truth Social and Crypto.com said in late October 2025 that they would bring a prediction market directly into the social platform and pitched it as the first social network with a natively embedded prediction market. That part is now gone.
What remains is a marketing relationship. Crypto.com’s prediction market products will be promoted to Truth Social users, but they will no longer be built into the platform itself.
A third agreement was also terminated. Crypto.com had been set to provide some services for an upcoming ETF from Yorkville America, and that arrangement has now been called off as well.
Trump Media shifts toward media, data licensing and TAE
Interim chief executive Kevin McGurn said the decision reflected a more crowded digital asset treasury market and a broader strategic reset at the company. He said it was not tied to concern about running crypto operations under Trump administration regulation.
McGurn took over in April this year. His predecessor, former congressman Devin Nunes, had led the company for four years. The report noted that McGurn’s background is rooted in media and streaming, with experience at Hulu, Vevo and T-Mobile.
Trump Media’s three main priorities are now its core media business, data licensing through Truth API, and an all-stock merger with fusion company TAE Technologies. The report said Truth API pricing can run as high as $100,000 a month, while the TAE deal is valued at more than $6 billion.
McGurn also recently said the company is moving ahead with plans to separate Truth Social and streaming service Truth+ into independently listed companies.
Why the deal was dropped
On the central question of why the CRO treasury partnership was terminated, the companies pointed to market conditions and shifting business priorities. McGurn added that the digital asset treasury space had become too crowded and that Trump Media wanted to push resources back into its media operations and the TAE merger, rather than away from crypto because of regulatory concern.
As for the prediction market, the report said the native Truth Predict integration has been canceled. Crypto.com and Trump Media will instead promote Crypto.com’s prediction market offerings to Truth Social users without embedding the product inside Truth Social itself.