In Summary
- Trump Media has terminated its plans for a CRO treasury company backed by Crypto.com.
- The initiative also included the cancellation of a broader digital asset agreement and a reduction in prediction market ambitions.
- Current Truth Social Funds ETFs will remain unaffected.
Trump Media & Technology Group, founded by former President Donald Trump, has decided to abandon its proposal to create a Crypto.com-supported CRO treasury company, along with a wider digital asset partnership with the firm.
As reported by Axios, Trump Media, Crypto.com, and Yorkville Acquisition Corp. have mutually agreed to terminate the intended Trump Media Group CRO Strategy and related digital asset initiatives.
The companies attributed their decision to "prevailing market conditions" and "shifting business and stakeholder priorities." The initiative aimed to utilize the Trump Media brand for a venture centered around Crypto.com's Cronos blockchain and the Cronos token, known as CRO. When first announced last year, the partnership was set to establish the largest publicly traded CRO treasury company by accumulating the token and yielding additional returns. Currently, the CRO token is priced at $0.05, experiencing a significant drop following this announcement, with a market capitalization of approximately $2.4 billion.
Interim CEO Kevin McGurn explained to Axios that the company is refining its focus as the digital asset treasury market has become increasingly saturated over the past year. He noted that staking's significance had diminished for Crypto.com, suggesting it was an appropriate moment for both entities to part ways.
Furthermore, Trump Media has scrapped its plans to directly incorporate prediction markets into Truth Social. Instead, they will pursue a marketing collaboration to promote Crypto.com's prediction market offerings to Truth Social's audience.
McGurn stated that the prediction market sector has become congested, making it less attractive for investment. Rather than operating prediction markets directly, Trump Media now believes it can add more value by acting as a distribution and data partner.
Over the past year, Trump Media's collaboration with Crypto.com had been expanding.
In October 2025, Trump Media announced the launch of Truth Predict, a prediction market powered by Crypto.com that would be integrated with Truth Social. In December, the companies revealed plans for a publicly traded CRO treasury company in partnership with Yorkville Acquisition Corp., which was anticipated to hold billions of CRO tokens. In February, Crypto.com reported donating $35 million over the prior year to the pro-Trump super PAC MAGA Inc., while that same month, the Office of the Comptroller of the Currency conditionally approved the exchange's application for a national trust bank charter.
Democrats have consistently criticized Trump's foray into the crypto space.
This week, Senators Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) called on the SEC to investigate President Donald Trump's meme coin, urging the agency to assess whether it has facilitated fraud or unjust enrichment. This request reflects the increasing Democratic scrutiny of Trump's business operations, particularly in the cryptocurrency sector, as the midterm elections approach in November.