Trump Media & Technology Group has scrapped plans for a Crypto.com-backed CRO treasury company and dropped a broader digital asset arrangement with the exchange.
According to Axios, Trump Media, Crypto.com, and special purpose acquisition company Yorkville Acquisition Corp. mutually agreed to end the proposed Trump Media Group CRO Strategy, a previously announced services agreement, and related digital asset products.
The companies said the decision was driven by “prevailing market conditions” and “shifting business and stakeholder priorities.”
CRO treasury plan is off
The venture had been set up to license the Trump Media name for a company built around Crypto.com’s Cronos blockchain and the Cronos token, CRO. When the plan was announced last year, the partners said the company would become the first and largest publicly traded CRO treasury company by accumulating the token and earning additional returns from those holdings.
CRO is now trading at $0.05. The token fell sharply after the news, leaving it at roughly a $2.4 billion market capitalization.
Interim CEO Kevin McGurn told Axios that Trump Media is narrowing its focus after the market for digital asset treasury companies grew increasingly crowded over the past year. He also said staking has become less important to Crypto.com, making this the right moment for the companies to part ways.
Truth Social will not directly integrate prediction markets
The Truth Social parent company is also abandoning plans to build prediction markets directly into the social platform. Instead, the companies intend to pursue a marketing deal that promotes Crypto.com’s prediction market products to Truth Social users.
McGurn said the prediction market business has also become crowded, making it a less compelling investment area. Rather than running prediction markets itself, Trump Media now sees more value in serving as a distribution and data partner.
A relationship that had expanded over the past year
Trump Media’s relationship with Crypto.com had widened over the last year before this reversal.
In October 2025, Trump Media said it planned to launch Truth Predict, a Crypto.com-powered prediction market integrated with Truth Social. In December, the companies and Yorkville Acquisition Corp. unveiled plans for a publicly traded CRO treasury company that was expected to hold billions of CRO tokens. In February, Crypto.com disclosed that it had donated $35 million over the previous year to the pro-Trump super PAC MAGA Inc. That same month, the Office of the Comptroller of the Currency conditionally approved the exchange’s application for a national trust bank charter.
Political pressure around Trump’s crypto activity continues
Democrats have repeatedly criticized Trump’s expanding crypto ventures.
Earlier this week, Sen. Elizabeth Warren of Massachusetts and Sen. Richard Blumenthal of Connecticut urged the U.S. Securities and Exchange Commission to investigate President Donald Trump’s meme coin, arguing that the agency should determine whether it enabled fraud or unjust enrichment. The request added to growing Democratic scrutiny of Trump’s business dealings, especially in crypto, ahead of November’s midterm elections.