Crypto.com2026-08-13 03:31:08Crypto.com, Trump Media scrap $6.42 billion CRO treasury deal as token slides below $0.05Crypto.com, Trump Media & Technology Group and Yorkville Acquisition Corp. have formally ended their plan to create a public CRO treasury company, walking away from a deal that had been pitched as one of the boldest digital asset treasury transactions of 2025. The parties disclosed in an Aug. 7 filing with the U.S. Securities and Exchange Commission that they were terminating the proposed merger for reasons tied to the current market environment and shifting business and stakeholder priorities. The structure had called for the creation of Trump Media Group CRO Strategy through a SPAC merger, backed by $1 billion in CRO, $200 million in cash, $220 million in mandatory exercise warrants, and a $5 billion equity credit line from Yorkville affiliates. Had it gone through, the vehicle would have become the largest publicly listed holder of CRO. The fallout hit the token quickly. CRO fell below $0.05 and touched roughly $0.047, its lowest level since October 2023. The announcement also coincided with the end of Crypto.com’s planned ETF services relationship with Yorkville America and a rollback of Trump Media’s plan to embed a prediction market directly into Truth Social. The collapse of the deal has renewed scrutiny on treasury-driven token narratives that depend on a large buyer staying in the market.1540
Trump Media2026-08-10 11:02:47Trump Media, Crypto.com End $6.42 Billion CRO Treasury and ETF Tie-UpTrump Media & Technology Group, Crypto.com, and Yorkville Acquisition Corp. have scrapped the proposed transaction that would have created Trump Media Group CRO Strategy, Inc., a public company designed to accumulate CRO, the native token of Crypto.com’s Cronos blockchain. The companies said they mutually agreed to walk away because of market conditions and changing business and stakeholder priorities. The same announcement also canceled a separate arrangement under which Crypto.com would have supported certain planned ETF offerings from Yorkville America, while Yorkville said its existing America First funds, branded as Truth Social Funds, remain unaffected. Axios separately reported that Trump Media is no longer planning to embed prediction markets directly into Truth Social and will instead promote Crypto.com’s prediction-market products to users. The reversal unwinds one of the biggest crypto treasury proposals of the 2025 boom, a package announced in August 2025 that included $1 billion in CRO, $200 million in cash, $220 million in mandatory-exercise warrants, and a $5 billion equity line of credit. Trump Media, however, is still holding more than $600 million in BTC, according to BitcoinTreasuries.1970
Trump Media2026-08-10 08:30:01Trump Media, Crypto.com scrap $6.42 billion CRO treasury planTrump Media & Technology Group, Crypto.com and SPAC partner Yorkville have formally terminated a previously announced plan to create a public company centered on holding CRO. The proposal, unveiled in August 2025, called for a vehicle named Trump Media Group CRO Strategy that would have held about 6.313 billion CRO, with an overall size of roughly $6.42 billion made up of CRO, cash, warrants and an equity credit line. Despite the scale, the transaction never moved beyond a framework agreement and remained subject to Securities and Exchange Commission filing and approval requirements. The cancellation also swept in two related arrangements: a planned Truth Predict product tied to Truth Social has been reduced to a marketing relationship in which Crypto.com promotes its own prediction market to Truth Social users, while a custody arrangement for Trump Media ETFs has been dropped. One separate agreement remains in place because it had already closed: Trump Media bought about $105 million in CRO for its balance sheet, and Crypto.com purchased $50 million of DJT stock. According to the report, the reversal came as CRO and the broader digital-asset treasury trade lost momentum. Crypto.com CEO Kris Marszalek said continuing with the proposed ETF and DAT transactions no longer made sense in the current market environment.1820
