Trump Media Abandons Crypto Treasury, Prediction Market Ventures

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.