In brief
- Trump Media has ended plans for a Crypto.com-backed CRO treasury company.
- The companies also scrapped a broader digital asset deal and scaled back prediction market plans.
- Existing Truth Social Funds ETFs will continue unchanged.
President Donald Trump’s Trump Media & Technology Group has scrapped plans to launch a Crypto.com-backed CRO treasury company and abandoned a broader digital asset deal with the company.
According to a report by Axios, Trump Media, Crypto.com, and special purpose acquisition company Yorkville Acquisition Corp. have mutually agreed to terminate the proposed Trump Media Group CRO Strategy, a previously announced services agreement, and related digital asset products.
The companies cited “prevailing market conditions” and “shifting business and stakeholder priorities” for the decision.
The venture would have licensed the Trump Media name for a company built around Crypto.com’s Cronos blockchain and the Cronos token, which trades as CRO. When announced last year, the partners said it would become the first and largest publicly traded CRO treasury company by accumulating the token and generating additional returns from those holdings. The CRO token currently trades for $0.05, falling sharply following the news, at around a $2.4 billion market capitalization.
Interim CEO Kevin McGurn told Axios the company is narrowing its focus after the market for digital asset treasury companies became increasingly crowded over the past year. He added that staking has become less important to Crypto.com, making it the right time for the companies to go their separate ways.
The Truth Social parent company is also abandoning plans to integrate prediction markets directly into Truth Social. Instead, the companies will pursue a marketing deal that promotes Crypto.com’s prediction market products to Truth Social users.
McGurn said the prediction market business has become crowded, making it a less compelling area for investment. Rather than operating prediction markets itself, Trump Media now sees greater value in acting as a distribution and data partner.
Trump Media’s relationship with Crypto.com had expanded over the past year.
In October 2025, Trump Media announced plans to launch Truth Predict, a Crypto.com-powered prediction market integrated with Truth Social. In December, the companies unveiled plans for a publicly traded CRO treasury company with Yorkville Acquisition Corp., which was expected to hold billions of CRO tokens. In February, Crypto.com disclosed donating $35 million over the previous year to the pro-Trump super PAC MAGA Inc. The same month, the Office of the Comptroller of the Currency conditionally approved the exchange’s application for a national trust bank charter.
Democrats have repeatedly criticized Trump’s expanding crypto ventures.
Earlier this week, Sen. Elizabeth Warren (D-Mass.) and Sen. Richard Blumenthal (D-Conn.) urged the SEC to investigate President Donald Trump’s meme coin, arguing the agency should determine whether it facilitated fraud or unjust enrichment. The request is the latest sign of growing Democratic scrutiny of Trump’s business dealings, specifically in crypto, ahead of November’s midterm elections.
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