coindesk.com
Trump Media (DJT) is unwinding parts of its crypto push, including scrapping plans to establish a publicly traded $CRO token accumulation company, which it unveiled near the height of last year's digital asset treasury boom.
Trump Media, Crypto.com and special purpose acquisition company Yorkville Acquisition mutually terminated plans for Trump Media Group $CRO Strategy, the firms said Friday, citing “prevailing market conditions, and shifting business and stakeholder priorities.”
The proposed venture would have created a publicly traded company focused on accumulating the native token of Cronos $CRO$0.05138 and earning additional returns by staking those holdings. Trump Media itself bought $105 million of $CRO in September 2025 as part of a broader partnership with Crypto.com that included plans to integrate token rewards into its products.
$CRO fell as much as 5% following the news.
The companies are also walking away from a separate partnership under which Crypto.com would have serviced certain planned exchange-traded funds (ETFs), from Yorkville America. Trump Media is also scaling back plans to build Crypto.com-powered prediction markets directly into Truth Social, Axios reported earlier.
The pivot comes as the digital asset treasury market has become saturated, Interim CEO Kevin McGurn told Axios, forcing the company to turn its attention to media, data licensing and completing its proposed merger with fusion-energy firm TAE. McGurn said the company hopes to close the deal before the end of 2026.
The retreat also happens as the CLARITY Act has stalled in Washington amid debate over ethics and potential conflicts of interest tied to President Donald Trump and his family’s crypto ventures.
Trump Media added bitcoin $BTC$64,962.56 to its balance sheet, holding 9,542 $BTC at the end of the second quarter, per company filings. However, it moved 2,628 $BTC earlier this week, worth about $165 million, to addresses associated with Crypto.com.