On August 7, Crypto.com, Trump Media & Technology Group, and Yorkville Acquisition Corp. announced their decision to abandon the creation of a public treasury for the CRO token. The parties cited market conditions and a shift in business priorities as reasons for their withdrawal.
In 2025, the exchange and the operator of the social media platform Truth Social had planned to establish Trump Media Group CRO Strategy, Inc. Under the agreement, Yorkville Acquisition Corp. was to conduct a stock listing on Nasdaq with the ticker MCGA.
The new company was set to receive 6.3 billion CRO tokens, which accounted for 19% of the total coin supply. The overall value of the transaction was estimated at $6.4 billion.
According to a joint statement, work on the digital treasury structure has officially concluded. Additionally, it was reported that Crypto.com, Trump Media, and Yorkville America have terminated their agreement regarding the exchange's involvement in servicing part of the Yorkville America ETF currently in development.
Following this announcement, the price of CRO dropped by 8.6%, reaching $0.04.
Hourly chart of CRO/USDT on Bitget. Source: TradingView.Plans for Prediction Markets on Truth Social Also Abandoned
The partners have also decided against plans to integrate prediction markets into Truth Social. Instead of developing their own infrastructure, they are discussing a marketing agreement where the social network will promote Crypto.com products in this sector to its users. The Truth Predict service was initially announced in the fall of 2025.
Kevin McGurn, the interim CEO of Trump Media, explained in an interview with Axios that the niche is already dominated by major players, making it impractical to invest in the technological base at this stage. He believes that it is more promising for Trump Media to act as a distribution channel and data provider rather than a direct operator of the markets.
New Leadership Alters Priorities
McGurn linked the withdrawal from crypto projects to the need to focus on media endeavors and prepare for the merger with TAE, a nuclear company, which Trump Media aims to finalize by the end of the year.
The CEO emphasized that this decision is not related to any potential conflicts surrounding the company affiliated with former President Donald Trump.
Nonetheless, Trump Media will retain its digital assets. According to Bitcoin Treasuries, the company currently manages 9,542 BTC, valued at over $600 million.
Top 20 largest Bitcoin holders among public companies. Source: Bitcoin Treasuries.It is worth noting that in 2025, Trump earned over $1.4 billion from cryptocurrency projects.