Trump Media Ditches Crypto, Prediction Markets

Trump Media Scraps Crypto.

com Deal, Citing Market Shifts

Donald Trump’s Trump Media & Technology Group has abandoned plans for a Crypto.com-backed CRO treasury company and a broader digital asset partnership with the cryptocurrency exchange.

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” as the reasons for the decision.

The venture would have licensed the Trump Media name for a company focused on Crypto.com’s Cronos blockchain and its native token, CRO. When announced last year, the partners stated the entity would become the first and largest publicly traded CRO treasury company by accumulating the token and generating returns from those holdings. The CRO token currently trades around $0.05, experiencing a sharp decline following the news, with a market capitalization of approximately $2.4 billion.

Interim CEO Kevin McGurn informed Axios that the company is narrowing its focus, noting that the market for digital asset treasury companies has become increasingly competitive over the past year. He added that staking has diminished in importance for Crypto.com, making it an opportune moment for the companies to part ways.

The parent company of Truth Social is also shelving plans to directly integrate prediction markets into its platform. Instead, the companies will pursue a marketing arrangement to promote Crypto.com’s prediction market products to Truth Social users. McGurn explained that the prediction market sector has become crowded, rendering it a less attractive area for investment. Rather than operating prediction markets itself, Trump Media now perceives greater value in serving as a distribution and data partner.

Trump Media’s collaboration with Crypto.com had expanded over the past year. In October 2025, Trump Media announced its intention to launch Truth Predict, a Crypto.com-powered prediction market integrated with Truth Social. In December, the companies revealed plans for a publicly traded CRO treasury company with Yorkville Acquisition Corp., which was anticipated to hold billions of CRO tokens. In February, Crypto.com disclosed a $35 million donation over the preceding year to the pro-Trump super PAC MAGA Inc. In the same month, the Office of the Comptroller of the Currency granted conditional approval for the exchange’s application for a national trust bank charter.

Democrats have consistently voiced criticism of Trump’s expanding cryptocurrency ventures. Earlier this week, Senators Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) urged the Securities and Exchange Commission (SEC) to investigate President Donald Trump’s meme coin, arguing that the agency should determine if it facilitated fraud or unjust enrichment. This request represents the latest indication of growing Democratic scrutiny of Trump’s business dealings, particularly in the cryptocurrency space, ahead of the November midterm elections.