Trump Media Steps Back from Crypto and Cancels CRO Token Deal

Trump Media pivots focus back to media and energy merger as crypto market cools.

Trump Media, the parent company of Truth Social, has decided to withdraw from its cryptocurrency initiatives, including plans to create a publicly traded company centered around Crypto.com’s CRO token. This decision was influenced by evolving market conditions and a shift in business priorities.

The collaboration between Trump Media, Crypto.com, and Yorkville Acquisition for the CRO project was originally conceived during the height of the digital asset boom in 2025, when Trump Media invested $105 million in CRO. However, the companies have now mutually agreed to cancel this venture, citing changing market dynamics.

Alongside the cancellation of the CRO strategy, Trump Media and Crypto.com are also terminating a separate agreement for Crypto.com to manage specific exchange-traded funds (ETFs) planned by Yorkville America. Further, Trump Media is scaling back its plans to integrate Crypto.com’s prediction markets into the Truth Social platform.

Interim CEO Kevin McGurn stated that the digital asset treasury market has become oversaturated, prompting a redirection of focus towards media and data licensing. Trump Media is also working to finalize its merger with TAE Technologies, a fusion energy company, with hopes for completion by the end of 2026.

This shift comes amid legislative challenges such as the stalled CLARITY Act in Washington, which raises ethical concerns regarding President Trump’s involvement in the cryptocurrency sector. As of the latest quarter, Trump Media reported holding 9,542 bitcoins but recently transferred 2,628 BTC, valued at around $165 million, to Crypto.com addresses.